According to several financial news sources, Goldman Sachs (GS) and Bank of America (BAC) may be cutting dividends. And reportedly, there is the possibility of a dividend cut at Regions Financial. Here are some other businesses that have already cut or plan to cut their dividends:
ABK, Ambac Financial Group, from $0.21 to $0.07 and recently to $0.01
BYLK.OB, Baylake Corp., from $0.16 to suspended
FRE, Freddie Mac, from $0.50 to $0.25
LION, Fidelity Southern Corp., from $0.09 to $0.01
MWFS, Mid Wisconsin Financial Services, from $0.22 to $0.11
WMG, Warner Music Group, from $0.13 to suspended
You may also be interested to know that the following businesses around the world have cut their dividends as a result of either the global credit crunch, rising energy prices, or difficulties refinancing debt:
BCCBF.PK, Babcock and Brown Power (Australia) , suspends second half dividend
TUM.F, Fortis Bank, suspends dividend - last year the Dutch Bank was involved in the takeover of ABN Amro. Is this shades of B of A and Countrywide?
PFD.L, Premier Foods, (UK) - cuts dividend in half. This is Britain's biggest food maker, struggling with debt from acquisitions and rising raw materials costs.
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