JPM cuts dividend by 87%

[FIRE'd@51]

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

 

[ziggy29]

I don't know that there's a major financial alive that I wouldn't expect to slash their dividends this year.

 

[unclemick]

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.

 

[Grep]

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?

 

[OAG]

Well they owe $25B to the "taxpayers"; so that may mean 5 years.