Still More Dividend Slashers

Per the Sydney Morning Herald: "17 out of 20 financial stocks in the S&P 500 index have cut dividends this year."  Here are some more dividend slashers to add to the list:

FSP, Franklin Street Properties - from $0.31 to $0.19 per share

FPFC, First Place Financial - from $0.17 to $0.085 per share

GM, General Motors - from $0.25 per share to suspended (a first since 1922).

MBWM, Mercantile Bank Corp. - from $0.08 to $0.04 per share

RF, Regions Financial - from $0.38 to $0.10 per share

WB, Wachovia Corp. - from $0.375 to $0.05 per share

In addition, Wachovia analysts are warning of hotel industry dividend cuts: "Strategic Hotels & Resorts Inc. (BEE), Ashford Hospitality Trust (AHT), DiamondRock Hospitality Co. (DRH) and FelCor Lodging Trust Inc. (FCH) may not be able to cover their current dividends from operating cash flow next year.  Strategic Hotels and Ashford Hospitality would likely have to cut their dividends between 40% and 60% to make up the cashflow shortfall, while DiamondRock and FelCor could borrow from their existing credit lines to keep their dividends intact."