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Real Estate & Property Law

: Housing Wire

Wells Fargo Slashes Dividend Amid Rising Loan Losses

By PAUL JACKSON

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Wells Fargo & Co. (WFC: 8.61 +6.03%) became the last major commercial bank to cut its dividend amid mounting pressure from bad mortgages and related loans on its books Friday morning, cutting its quarterly common stock dividend 85 percent, from $.34 to $.05 per share. “This was a very difficult decision but it’s absolutely right for [...]

Full post as published by Housing Wire on March 06, 2009 (boomark / email).

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