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$4.05 0.08 (2.02%)
7/3/2008 1:06 PM

MBIA, Inc. (MBI)

CAPS Rating:
*

The Company provides financial guarantee insurance and other forms of credit protection as well as investment management services to public finance and structured finance issuers and investors and capital market participants on a global basis.

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Avatar kdakota630 (99.86) Submitted: 2/25/08 5:52 PM : Underperform Start Price: $9.94 MBI Score: 44.38

" Monday, Feb. 25 2008
MBIA Eliminates Quarterly Dividend

SAN FRANCISCO -- MBIA Inc. said late Monday that it will stop paying quarterly dividends as the bond insurer tries to preserve capital and keep its crucial AAA rating. The move, which will save the company roughly $174 million a year, was recommended by Jay Brown who recently returned as chief executive of the company. "MBIA will continue to take reasonable and prudent actions such as this dividend elimination in an effort to retain and strengthen our Triple-A ratings," Brown said in a statement. "As a very large individual shareholder of MBIA, I'm the first one to feel the pinch from this action. But I think this, coupled with my recent commitment to buy a substantial number of additional shares, demonstrates my absolute commitment to be aligned with our owners and to maximize long-term value."

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Now maybe I can start getting some points back, which I'm guessing will start happening first thing Tuesday morning.

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