NATO01 E-3A Sentry AWACS over sw Estonia-did a small stint over central Poland prior to heading to current location, finished and south
DUKE36 US Army C-560 departing Oslo, Norway after a ground stop-inbound from Ramstein AFB
NATO06 E-3A Sentry AWACS in Aegean Sea
both Sentry AC from Geilenkirchen AB
00-9001 USAFSOC C-32B departed McGuire AFB, NJ nw
VENUS65 USAF G5 north from a JBA departure
VVLL876 and 853 US Navy P-8 Poseidens off Space Coast
Wells Fargo to cut dividend while other big banks hold payouts steady
Wells Fargo & Co. said it expects to cut its dividend for the first time in more than a decade to preserve capital to weather the coronavirus pandemic.
The fourth-largest U.S. bank by assets said Monday it would cut its dividend from the 51 cents it paid in each of the four most-recent quarters. The bank said it would announce its payout when it reports second-quarter earnings on July 14. The other big U.S. banks— JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley—said they intend to hold their dividends steady. Still, this would be the first time any of the major banks reduced its per-share payout since the second quarter of 2009, when they faced an existential threat from the housing crisis
Banks are in a much stronger position now than they were during the past financial crisis. But with the outlook highly uncertain because of the pandemic-induced economic collapse, the Federal Reserve asked banks last week not to increase their dividends. The central bank said that in a worst-case scenario in which the economy takes a long time to recover, banks could face as much as $700 billion in loan losses. Wells Fargo executives hadn’t committed to keeping the dividend intact, instead saying they would have to evaluate the Fed’s guidance and the bank’s own earnings power. The bank earned $653 million in the first quarter, down 89% from a year earlier. Chief Executive Charles Scharf has said earnings are expected to be similarly weak in the second quarter. In a statement Monday, he said he expects the bank will need to make a bigger increase in its allowance for credit losses than in the first quarter.
which if they do not use all those provisions set aside for losses it will take the amount unused and apply it directoy to it's balance sheet as earned income
The biggest banks all posted lower profits in the first quarter, and they socked away billions of dollars to deal with soured loans. But Wells Fargo’s business lines were already struggling pre-pandemic; the bank’s fake-account scandal of four years ago has crimped revenue growth and forced it to lean on cost cutting.
The potential for a dividend cut has been a concern among Wells Fargo investors in recent months. The bank’s share price has more than halved in 2020, putting in the worst performance of the six largest banks. The KBW Nasdaq Bank Index was down 36% for the year and the S&P 500 was down 5.5%. The Federal Reserve also asked banks not to repurchase their own shares in the third quarter. Banks had previously committed to halting buybacks through the second quarter.
https://www.foxbusiness.com/markets/wells-fargo-to-cut-dividend-while-other-big-banks-hold-payouts-steady
it has gotten slightly better since the original use of it but as long as the FRB let the banks say they are "holding any asset class to maturity" so they don't count it in the results-which is allowed then it's just another game of shuffle the crap around.
finally, thanks for that
Gave up watching the finite crap long ago with that
all crap from the start.
agree on with you on that 100%
how people even have accounts at them now after 2008-09-put it all in everyones face and they still transact with them
00-9001 USAFSOC C-32B and VENUS65 USAF G5 both over Rochester, NY-Int'l Airport fly overs at low altitude
Nothing to see here.
https://www.kitco.com/charts/livegold.html
they did not plan on the Wuhan fakes fuckery exposure.
Still just paper but it's watched.
hedgies obviously reacting
morning B