Relevant:
- UBS to Pay Lower Dividend as Cash Replaced by Stock
- Barclays Plummets as Bank Slashes Dividend in Plan to Shrink
- WaMu to Get $7 Billion Infusion; Bank Slashes Dividend, Posts Loss
- Deutsche Bank Plans to Eliminate Dividend for Two Years in Overhaul
- Goldman Gallops Past Estimates Despite Profit Drop, Hikes Dividend
2008-10-14 — telegraph.co.uk
The Royal Bank of Scotland, Lloyds TSB and HBOS have agreed to ditch their dividend payments as part of the bank bail-out plan. In return for the funding, the Government will receive preference shares, which pay a fixed rate of interest instead of a dividend. This interest has to be paid before other shareholders receive anything. Barclays has also agreed to scrap its final dividend for 2008 which will save the bank around £2bn.
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