wolfhounds (29.10)

Daily post of Dividend reduction and suspensions

April 21, 2009 – Comments (0) | RELATED TICKERS: VALU , PENX , CSBC

TARP has by fiat reduced large bank dividends, and many major corporations and REIT's have likewise faced cash problems forcing dividend reductions. But the economy is effecting a much broader swath of smaller financial institutions and manufacturers of all stripes. I thought it would be useful to post a daily log of these. Here's is today's tally from sources I found. I'm sure there are more.

REDUCED:

FSNM (banking)

BLX   (banking)

CSBC (banking)

TCF   (financial)

VALU (financial)

SUSPENDED:

BBEP (Energy Trust - subs. of Provident Energy) 

PENX  (specialty chemicals)

I've been following dividends for about a month, and should have started this earlier. But I suspect we'll be seeing a pickup, not downturn in reductions as companies come to terms with the length of this recession.