"First Republic Bank Suspends Dividends on Preferred Stock Amid Uncertain Times"
TL;DR Summary
First Republic, a struggling US regional bank, has suspended dividend payments on preferred shares as a measure of prudent oversight. The move is seen as a desperation move and could signal trouble for other regional banks. Shares of FRC have plummeted from a high of $147.68 in February to $14.03, making it difficult to fold the company into another bank.
Topics:business#dividends#finance#financial-crisis#first-republic#preferred-shares#us-regional-banks
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- First Republic bank to suspend dividends on preferred stock Reuters
- First Republic Bank is suspending dividend payment on preferred stock MarketWatch
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