03.06.2009 7:11 pm

Wells Fargo cuts dividend

St. Louis Post-Dispatch

Wells Fargo & Co. on Friday joined the crowd of major banks cutting their dividends. The parent of St. Louis-based Wachovia Securities cut its dividend from 34 cents to 5 cents. That followed recent cuts by U.S. Bank, Bank of…

Tags: banking industry, capital, dividend, liquidity, Wells Fargo

Comments (1)
Email this

03.05.2009 9:30 am

U.S. Bank, largest bank in area, cuts dividend

By Jim Gallagher

St. Louis Post-Dispatch

U.S. Bank slashed its dividend by 88 percent Wednesday citing “uncertainty in the financial markets and a weakening economy.”

CEO Richard K. Davis also noted the federal government’s growing emphasis on common equity as a measure of financial strength. Cutting the…

Tags: banking industry, capital, dividend, earnings, financial situation, St. Louis, U.S. Bank

Comments Off
Email this