Lincoln Financial (LNC) Guides Q3; Cuts Qtr. Dividend by 49% to $0.21/Share
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Lincoln Financial Group (NYSE: LNC) sees Q3 EPS in the range of $0.50-$0.70, versus the consensus of $1.32.
The company's Board has approved a 49% reduction in its quarterly dividend from $0.415 to $0.21 per common share, to be paid on February 1, 2009 to shareholders of record on January 9, 2009.
At the end of Q3, the company estimates that it had $500 million in excess capital.
Lincoln National Corporation, through its subsidiaries, engages in multiple insurance and investment management businesses primarily in the United States.
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