BP shares plunged nearly 16% today as investors dumped the stock since a dividend cut appears imminent.
Fitch Ratings believes that BP's dividend is safe despite the widespread speculation of an imminent dividend cut.
Dividend investors have reason to cheer as GE’s CFO indicated that the company plans to begin growing their dividend again, but not until 2011.
BB&T announced yesterday that they are reducing their quarterly dividend by 68% to $.15 per share.
Black & Decker announced today that they are cutting their quarterly dividend by 71% to $.12 per share.
Fortune Brands announced today that the company is reducing their quarterly dividend by 57% to $.19 per share.
U.S. Steel announced yesterday that they are reducing their quarterly dividend by 83% to $.05 per share.
Last week, Pfizer slashed their dividend by 50%, but was their dividend cut even necessary?