Irwin Financial Corporation (IFC) Announces Suspension of Quarterly Dividends
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Irwin Financial Corporation (NYSE: IFC), a bank holding company focusing on small business and consumer mortgage lending, today announced its Board of Directors has voted to suspend quarterly dividends on its common, preferred and trust preferred securities.
"During the last two years, our dividends have exceeded our earnings," noted Will Miller, Chairman and CEO. "Until we return to normal levels of profitability, that is neither a sustainable nor wise strategy.
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