This monthly series collects and summarizes SA members’ opinions about companies with dividends that may be in danger. Not all information for each company has been independently verified. Readers’ comments have been integrated and edited. If you wish to see the full comment stream, consult last month’s article.
Always perform your own due diligence before making any investment decisions.
Hudson City
Hudson City Bancorp (HCBK), which was identified as having a dividend in danger in both the March and April articles, did cut its dividend on April 20. The dividend, which had been frozen since May 2009 at $0.15/share/quarter, was chopped to $0.08 for the upcoming May, 2011 payment, a 47% decrease. The stock’s price had taken a significant tumble in early March, falling from about $11.50 to under $10, and it has been floating slowly down since then to a current level of about $9.26.
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