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JPM cuts dividend by 87%
Old 02-23-2009, 03:24 PM   #1
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JPM cuts dividend by 87%

This is something I sure didn't expect. JPM has reduced it's quarterly dividend to 0.05 from 0.38.

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Old 02-23-2009, 03:26 PM   #2
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I don't know that there's a major financial alive that I wouldn't expect to slash their dividends this year.

"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 02-23-2009, 05:41 PM   #3
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Ouchee! That was about the last of my Norwegian widow financials still paying the big dividend.

heh heh heh - Oh rats! - I hope my wheat bread stock Flowers holds up .

BAC, C, STI, UBS-Ag, and now JPM - all in the poop - good thing I bought some other sectors.
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Old 02-23-2009, 05:59 PM   #4
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One thing I noticed about this announcement was that they stated it would "retain 5 Billion additional dollars per year."

Just how many years are we talking about?
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Old 02-24-2009, 04:25 AM   #5
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Well they owe $25B to the "taxpayers"; so that may mean 5 years.
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