Tag:
Dividend Payment
Latest Headlines
Latest Headlines
Morgan Stanley wins praise for MUFJ move
It was big news when Goldman Sachs ( NYSE: GS ) announced it would buy back the $5.5 billion in preferred shares it sold to Warren Buffett at the height of the financial crisis. The face-saving deal was exceedingly expensive for Goldman, as they carried a massive 10 percent dividend, which amoun
Small banks still suffering, as big banks mend
Many of the biggest TARP-baby banks have paid back the government, or have plans to do so, and are considered past the point where they could actually fail. But not so for small banks, which have emerged as a big problem for the federal bailout effort.
A new report from the Treasury has found
First job for new Bank of America CEO?
One danger for the board of Bank of America ( BAC ) is that in an effort to find the perfect candidate to be CEO, but not chairman, it ends up taking too much time. The likelihood of that happening is unclear, though one report says the board wants to hire a new CEO quickly . However, there w
Is Bank of America poised to receive more aid?
Bank of America CEO Ken Lewis made headlines last week when he wrote in a memo that the bank "does not need further assistance today and I don't believe we'll need any more in the future." Let's just say not everyone is convinced. TheStreet.com notes estimates from an Egan Jones analyst that B
More on Citi's need for TCE
A lot has been made of Citi's move to prod the government to convert its preferred shares into common shares, even though this would harm existing shareholders. TheStreet.com notes that the move would save $563 million a quarter in dividend payments, but also make the bank's Tangible Common Eq
What to make of JPMorgan Chase's dividend cut
This shouldn't be hugely surprising; JPMorgan Chase announced it had slashed its quarterly dividend from 38 cents a share to 5 cents a share (87 percent) in a defensive move. The cut allows the bank to save $5 billion a year, and help pad its capital. The move was described in defensive terms, a p
Update: Government eases terms
There's been a lot made of the move by Citi and other banks to have the government take a larger stake in the companies--and the latest news from the Treasury is that it agrees. It has ostensibly blessed the idea of accepting more common shares in lieu of preferred shares. Thus dividend payments w
The big losers in the bank bloodbath
In the high stakes battle to save America's biggest banks, a zero sum game seems to be emerging--one that pits common shareholders vs. taxpayers. Increasingly, as the government gets more and more involved with the likes of Bank of America and Citi, it looks like both cannot win. The sheer size of
Who's really calling the shots at WaMu?
Washington Mutual made headlines when it announced that the board had finally ousted ex-CEO Kerry Killinger, instead hiring Alan Fishman, currently chairman of New York commercial mortgage broker Meridian Capital Group. The real news was that the company signed a memorandum of understanding with t
