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|Subject: Re: Just when things were going ok, the rules ch||Date: 1/4/2009 2:49 PM|
|Author: aj485||Number: 65038 of 75335|
I hold some BAC (which isn't paying dividends now, but did).
You might want to check your accounts. BAC reduced their dividend for the 3rd quarter, but did not suspend it. It was paid out on December 26: http://newsroom.bankofamerica.com/index.php?s=press_releases...
In addition, the Board of Directors has declared a quarterly dividend on common stock of $0.32 to be paid on December 26, 2008 to shareholders of record on December 5, 2008. Assuming the current number of issued and outstanding shares, the reduction from $0.64 paid in recent quarters would add more than $1.4 billion to capital each quarter.
BAC 4th quarter earnings haven't been announced yet, so there is a chance that dividends could be suspended then. But There are limitations that have been placed on *increasing* dividends when TARP money is received. But dividends can still be paid at the rates that were in place before receiving the TARP money.
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