What a disappointment. Why did they move the date for the dividend? They are making us wait a month longer. Anyone know the reasoning? Also, they increased it 3 lousy cents? Kelly King is not making good on his promise to get it back to where it was before the crash. There is no reason for them not to have increased it at least 8 cents. Anyone have any thoughts about these two issues? Very disappointed.
1/1/2013 and 2/5/2013 were both ex dividend dates! The change in the dividend date was to make dividend payments 2 months earlier than the previous procedure. The 2/5/2013 ex dividend date for the 4th quarter 2012 would have been early April had the change not been made. Perhaps you forgot about the 1/1/2013 ex dividend date which was the dividend announced for the 3rd quarter 2012.
Sentiment: Strong Buy
a 14% increase in dividend payout it a very good step in the right direction. The real concern is the slowdown in business loans and an increase of 8 cents at this juncture would be irresponsible.
I feel your pain Clinton once said , but If my memory is correct the feds now require the payout ratio to be less than 40%. Also Obama requires a certain amount of cash to be on hand at all times . The exact numbers I do not have . Dod-Frank ring a bell with anyone .
Yes, upper mgt needed the money for their raise. As an ex little business owner my philosophy was that I would give the employees a raise equal to what I would get.
In the world of corporations, it looks like greedy, especially union employees and greedy mgt get all the profit and the stock holders, owners, get nothing or a pittance.
In the words of Obama, which he doesn't live by, is, "Be Fair".
Maybe you better start living in the real world if you seriously talk "... especially union employees " If there was no union to get their share where do you think the money would go? I can assure you it wouldn't go to stockholders instead! Probably end up in bonuses for the upper management.
Re-read the press release. Prior dividends were paid on or around the first of the 2nd month following the end of the quarter in which it was declared. The 3 cents recently declared is a 15% increase to 23 cents which apparently will be paid April 1st, where it would be May 1st under the previous process - note our 20 cent dividend payment declared in October 2012 will be paid on or around February 1st. Brief search found that WFC dividend increase is 14%, based on a 3 cent increase to 25 cents. The STI 400% increase is worth noting - that is a 4 cents a quarter increase from 1 cent to 5 cents. Had it been zero before I guess they could claim an infinite increase.
Sentiment: Strong Buy
You're getting 2 dividends in the 1st qtr - 2/1 for $.20 and 3/1 for $.23 and probably 5 for the year.
Big questions are: how much did the Fed approve in 2012 - did they approve $.23 per qtr. and bank decided to hold back some - maybe because of acquisitions and expansion into Texas?; and how much will Fed approve in 2013?
Worthwhile exercise is to look at the combination of share buybacks plus dividends as % of eps at jpm, wfc and usb . How does bbt stack up? Need to take into account acquisitions - crump and bbx cost the bank around $900 million and will add to eps.