Fifth Third Falls on Plan to Raise $2 Billion, Cut Dividend

Fifth Third Bancorp., Ohio's second- largest lender, will cut its dividend and raise $2 billion in capital after nine quarters of lower profit. The lender fell as much as 16 percent.

Earnings may be as little as 1 cent to 5 cents a share in the second quarter excluding additional charges, the Cincinnati- based bank said in a regulatory filing today. Analysts surveyed by Bloomberg had predicted an average of more than 40 cents. The lender will sell subsidiaries and preferred convertible stock, the company said.