Marshall & Ilsley (MI) Reports Q4 Loss of $1.55; Cuts Qtr. Dividend to $0.01/Share; to Cut 8% of Workforce
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Marshall & Ilsley Corporation (NYSE: MI) reports Q4 loss of $1.55, versus the analyst estimate of $0.07.
Marshall & Ilsley Corporation announced that the quarterly cash dividend has been reduced to $0.01 per share. The next regular dividend declaration date is in February 2009.
The company also announced that Proxy officers and all other executive officers will receive no bonuses for 2008. Also on the expense initiative front, M&I will eliminate approximately 830 positions, or 8% of its workforce.
Marshall & Ilsley Corporation provides diversified financial services to corporate, institutional, government, and individual customers in the United States.
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