USB cuts dividend by 88%

[FIRE'd@51]

The pain to retirees relying on dividends continues, as another "safe" bank cuts it's quarterly dividend to 0.05 from 0.425.

 

[ziggy29]

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.

 

[OAG]

And now Capital One has cut their dividends effective today -87%: Capital One cuts dividend 87% to save $500 million - Mar. 9, 2009

 

[ziggy29]

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...