Value Investing News

Yesterday JPMorgan Chase (JPM) cut its quarterly dividend by 87%, from $0.38 to $0.05. Chief Executive Jamie Dimon said the cut was a precaution to ensure that the company has financial flexibility if economic conditions worsen. The move will save the company about $5 billion annually.

• http://www.dividendgrowthinvestor.com/2009/02/yet-another-financial-company-cutting.html (1)