Posted on February 12th, 2009 110 comments
Dow Chemical (DOW) announced that it will pay a dividend of 15 cents a share on April 30, compared with its previous dividend of 42 cents.
The company posted a fourth-quarter loss of $1.55 billion as the slowing economy reduced demand for the company’s products. In addition, Dow is in a court battle over its previously announced acquisition of Rohm and Haas.
As a result of the large cut in the dividend, DSR is dropping coverage of DOW.
Posted on January 20th, 2009 110 comments
Citigroup (C) said that its dividend will be cut to $0.01 after announcing a fifth straight quarterly loss. The bank had previously cut its dividend to $0.16 per share in October. Citigroup remains on the DSR dropped coverage list.