Wells Fargo Cuts Dividend 85% to 5 cents

Wells Fargo & Co. (WFC) announced it will cut its dividend in an effort to save $5 billion annually. The bank will cut its dividend to 5 cents from 34 cents. The next dividend is expected to be declared in April. Wells Fargo's shares have fallen 72.5 percent so far this year. The stock has lost 25 percent this week alone.

by Mark Anderson | 03/06/09 | Stocks: WFC,

Post a Comment

blog comments powered by Disqus

DJIA	9,908.39	0.00%
NASDAQ	2,126.05	0.00%
S&P 500	1,056.74	0.00%


	Can Citigroup Be Saved? Citigroup Inc. (C) announced that it is making plans to planning to increase the number of its common shares outstanding and execute a reverse stock split as part of its effort to convert preferred shares to common shares. Citi is seeking to exchange about $27.5 billion in public and private preferred securities as part of its agreement with the Treasury Department, which has pledged to match up to $25 billion of the conversions. This deal represents the government's third attempt... continue

Get Our RSS Feeds

Subscribe to our RSS feed and you will receive all the articles by InvestorPlace Blogs contributors. Each contributor has their own RSS feed on their blog if you want to just follow specific people.

Wells Fargo Cuts Dividend 85% to 5 cents

Post a Comment

Can Citigroup Be Saved?

Get Our RSS Feeds