Supervalu Cuts Dividend

Catching up after some travel.

Last week Dividend Aristocrat Supervalu (SVU) cut the company's dividend by 50%. SVU becomes the first consumer staples stock to reduce its dividend.

• The new quarterly dividend is reduced to 8.75% from 17.5%.

• The company's second quarter earnings came in at 35 cents per share versus 61 cents per share in the same quarter last year.

• Full year earnings for February 2010 are estimated to come in at $1.94 and February 2011 earnings are projected at $2.01.

(click to enlarge)