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PrivateBancorp plummets after slashing its quarterly dividend |
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| Mar 05, 2009 05:50 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Analyst upgrades and downgrades, From the boards, Financial Crisis  The shares of PrivateBancorp (NASDAQ: PVTB) wasted no time in finding a fresh annual low this morning after the Chicago-based bank announced plans to slash its dividend by 87%. The quarterly payout will now be one penny per share, down from 7.5 cents per share. On the heels of this report, the stock quickly slipped to $9.65, marking its lowest price since September 2002.
"Given the current economic and regulatory environment, we felt this was a prudent step to take to further enhance our capital position and our liquidity," said President and CEO Larry D. Richman in a statement. Continue reading PrivateBancorp plummets after slashing its quarterly dividend PrivateBancorp plummets after slashing its quarterly dividend originally appeared on BloggingStocks on Thu, 05 Mar 2009 12:50:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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