In a first, Prudential cuts dividend
Shareholders will receive an annual dividend of 58 cents per share of common stock Dec. 19, down by about 50% from the dividend paid out in 2007.
For the first time, Prudential Financial Inc. of Newark, N.J., has cut its shareholder dividend for 2008.
Shareholders will receive an annual dividend of 58 cents per share of common stock Dec. 19, down by about 50% from the dividend paid out in 2007.
The carrier had a tough third quarter.
Prudential booked a net loss of $108 million, or 23 cents per common share, for its financial services business, which includes investments, insurance and corporate units.
That’s down from a profit of $860 million, or 74 cents per common share, in the comparable period last year.
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