Monday the Dow opened at 8,375 and closed at 8,176. In between we had a 554-point roller coaster ride. Today the Dow was up 889 points. So have we hit bottom? I doubt it; there are more third quarter earnings to come and the housing market is far from recovered, as you can clearly see in the latest Case Schiller Home Price Index. There is some good news out there, however; the VIX (volatility index) is down more than 16% today. Here are the latest dividend slashers to add to a growing list:
CNA, CNA Financial Crporation - from $0.15 to suspended
COLB, Columbia Banking Systems, Inc. - from $0.17 to $0.07
DDR, Developers Diversified Realty - from $0.69 to $0.375
JLL, Jones Lang LaSalle - from $0.50 to $0.25
STI, Sun Trust Banks, Inc. - from $0.77 to $0.54
ZION, Zions Bancorp. - from $0.43 to $0.32
On a more positive note, here is a link to a story about five companies that are raising their dividends in this difficult market.
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