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1 point posted on 07/14/08

44%

Alpha Zilla:

-5.84%
risk: conservative

What's the frequency Kenneth?

I cannot believe (In a good way of course) Bank of America hasn't followed everyone else in the banking sector and cut its dividend. Is there anyway for BAC to hold the line after assuming CFC and its debt? It would be nice, but I would not be surpised if by the end of August Lewis announces a 50% cut in the dividend. Anyone not shorting BAC right now?

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BAC

Bank of America Corp

Comments (3)

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allstarinvestor

85%

1 point commented 503 days ago reply

JPM is still holding onto its dividend as well and that may be a better pick up than BAC

spacemunkey

57%

1 point commented 498 days ago reply

Are we really out of the woods with the banks?

http://money.cnn.com/2008/07/22/news/banks.dividends.fortune/index.htm?postversion=2008072214

I imagine if Mr. Lewis were to cut the dividend it would be no later than mid September.

osubuckeye

37%

1 point commented 491 days ago reply

No dividend cut forthcoming. Lewis openly acknowledged that BAC may not back CFC public debt. Check out the mechanics of the acquisition - they are setting themselves up to take out the good parts of Countrywide and bankrupt the remnants under the CFC name, formerly a holding corporation they set up to orchestrate the acquisition. BAC is playing this one smart - lots of upside.

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Bank of America Corp (BAC)

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