Wells Fargo expects dividend cut as coronavirus roils financial system
Wells Fargo expects it will shrink its dividend when it announces second-quarter earnings in July, the San Francisco-based bank said Monday.It will be the bank’s first dividend cut since the financial crisis.The move came after the Federal Reserve released the results of its annual stress tests of the country’s largest banks Thursday, in which it barred them from buying back their own stock or increasing dividend payouts to shareholders in the third quarter.Despite the restrictions, the regulator said that banks were generally still well-capitalized during the economic downturn caused by the c...
The Charlotte Observer
Dividends: Focus on Improving Cash Flow Companies
Stocks were strong again last week and for the month, the broad market index was up 4.5% and the long treasury bond was down 3%. This makes a good time to improve the growth and quality of your portfolio. As we trace out the recovery from the virus over the next two quarters, high and rising cash flow, and improving financial condition are likely to be important attributes.Q1 2020 hedge fund letters, conferences and moreWe will be managing through an apparent long-term disruption in global trade, the massive stimulus borrowing and shift to fiscal spending. Some structural changes are already u...