If BAC was the good-guy bank this week, here are a few of bad-boys. Wachovia (WB) reports a Q2 loss of $4.20 and cuts its dividend to $0.05. KeyCorp (KEY) cuts dividend 50% to $0.1875; Regions Financial (RF) misses Q2 EPS by $0.03 and slashes its dividend. Another two dividend Aristocrats fall off the wagon. With Bank of America's (BAC) big announcement this week, there appears to be life after financial crisis. Will it last? Who knows. If you are a dividend investor, it doesn't matter. If the market goes up, you can enjoy your paper-profits on recent purchases. If it goes down, it provides more opportunities to pick up some value-priced bargains. Below are several companies that increased their dividends last week:
Disclosure: Long in BAC
(Photo: Steve Woods)
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Posted by D4L | Thursday, July 24, 2008 | commentary | 0 comments »________________________________________________________________
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