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USB cuts dividend by 88%
Old 03-04-2009, 08:19 AM   #1
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USB cuts dividend by 88%

The pain to retirees relying on dividends continues, as another "safe" bank cuts it's quarterly dividend to 0.05 from 0.425.
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Old 03-04-2009, 08:26 AM   #2
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Right now, I wouldn't touch any financial as a dividend play. Some of the better ones might be good turnaround plays for those with patience, but anyone investing for dividends should avoid financials like the plague, as a high yield almost certainly means one to be drastically cut in the not-so-distant future.
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Old 03-09-2009, 05:52 PM   #3
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And now Capital One has cut their dividends effective today -87%: Capital One cuts dividend 87% to save $500 million - Mar. 9, 2009
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Old 03-09-2009, 05:55 PM   #4
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I hate to sound harsh, but if anyone has been holding banks for the dividend over the last couple months, I simply don't know what they were thinking or expecting...

What's in my wallet is a lot less dividend income...
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"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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