JPMorgan shareholders want dividend back
May 21, 2009
By MoneyAisle
According to the Associated Press, “JPMorgan Chase & Co.’s stock is down about 19 percent from a year ago, but the bank has managed to stay profitable throughout the financial crisis.”
However, many shareholders have criticized the company, especially with respect to the “steep dividend cut following the bank’s acceptance of federal funding last year.”
Chairman and CEO Jamie Dimon said that the restoration of the company’s dividend relies on its ability to pay back the $25 billion it received as part of the Treasury’s Troubled Assets Relief Program.