Dividends
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Dividends and Poker
When playing poker you receive rakeback from the poker
rooms. Meaning part of the poker room earnings go back to the players. Rakeback is a dividend from the poker room to the
player as a loyalty bonus for playing with them.
Wells Fargo (WFC) Slashes Qtr. Dividend to $0.05/Share; Will Save $5B Annually
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Wells Fargo (NYSE: WFC) to cut its quarterly dividend from $0.34 to $0.05 per common share.
Wells Fargo said the reduced dividend will save the company about $5 billion annually.
With the stock closing at $8.12 last night, the dividend will now yield 2.46%, down from 16.75% previously.
UPDATE: For more color on the dividend reduction, click here.
Shares of Wells Fargo are now trading around $8.74, up nearly 8% from yesterday's closing price.
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