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First Republic Bank to Suspend Dividends on Preferred Stock

Reuters2023-04-08

(Reuters) - First Republic Bank said in a regulatory filing on Friday that it will suspend payments of quarterly cash dividends on its preferred stock "as a measure of prudent oversight."

Last month, the bank suspended its dividend on common stock after the collapse of Silicon Valley Bank.

Large U.S. banks injected $30 billion in deposits into First Republic Bank last month to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-sized U.S. lenders.

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Comment9

  • neo26000
    ·2023-04-09
    I wonder why no rocket scientists analysts forsee this. Oh I forgot. They do not foretell the future. They just "try" to justify the past.
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  • YangTan
    ·2023-04-09
    Good buy?
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  • JK JK
    ·2023-04-08
    best
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  • YJ Lee
    ·2023-04-08
    Ok
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  • setia100
    ·2023-04-08
    Step by step following the CS way. 😂
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  • Longmanlee
    ·2023-04-08
    Good... Drop more pls
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  • Grumpy Cat
    ·2023-04-08
    Since banks are going bankrupt at the moment it's probably for the best. I imagine most don't reinvest dividends.
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  • Lord Tan
    ·2023-04-08
    Good for the stock
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  • Vincentan59
    ·2023-04-08
    Not a good sign ☠️☠️👽👽
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