Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 93.23

-1.2%

Dec 31 3:59 PM EST

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To: tejek who wrote (87)	2/23/2009 5:11:26 PM
From: RockyBalboa	Read Replies (1) of 1428

JPM in afterhours casino... stock fell to 18s then recovered to over 20 on good outlook. 4:47PM JP Morgan Chase to reduce quarterly dividend to $0.05 per share; Q1 performance quarter to date is solidly profitable (JPM) 19.51 -0.39 : The co announces that the Board of Directors has reduced the company's quarterly common stock dividend from $0.38 to $0.05 per share, effective for the dividend payable April 30, 2009, to shareholders of record on April 6, 2009. The Board anticipates maintaining this level for the time being. This action will enable the company to retain an additional $5 billion in common equity per year. First-quarter 2009 financial performance quarter-to-date is solidly profitable even after significant additions to reserves, and the outlook for the quarter is roughly in line with analyst expectations. "While we recognize our tremendous obligation to shareholders to maintain dividend levels, we also understand that extraordinary times require extraordinary measures. Our action today is being done as a strong precautionary measure to help ensure that our fortress balance sheet remains intact - even if conditions worsen significantly..."

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