Monday, October 06, 2008

BAC: Another Financial Dividend Aristocrat Cuts Dividend

Today, Bank of America (BAC) announced a 50% reduction in the company's quarterly cash dividend. The new quarterly dividend is reduced to 32 cents per share versus 64 cents per share in the same quarter last year. The company also announced it intends to raise $10 billion in additional capital via a stock offering. BAC is the sixth financial S&P Dividend Aristocrat to cuts its dividend this year.

The Dividend Growth Investor website recently posted an article detailing the recent dividend cuts in the financial sector.

(click table/chart for larger image)

Bank of America dividend analysis table
Bank of America stock chart


3 comments:

MG (moneygardener) said...

:(

Nurse B, 911 said...

It'll be ok MG. Someone will give you a dividend increase soon to make up for the lost income from BAC

MG (moneygardener) said...

hey the U.S. $ appreciation alone has made up the difference...