Citis Dividend Bears Have Their Day - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times

I would imagine anyone who cares probably has heard the news today that Citi cut its dividend. In line with previous research findings, Citi did fall on the news of the cut (currently down about 7.5%).

However, what is more interested (and telling) is looking back to last fall when this cut was predicted by some (example Meredith Whitney, the CIBC analyst who reportedly received death threats for suggesting it) and vehemently renounced by Citi officials.

Today's news: Citi's Dividend Bears Have Their Day - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times:

"Citi announced $18 billion in write-downs in the fourth quarter related to its subprime mortgage exposure....As part of a series of moves to shore up its capital base, Citi said that, yes, it would indeed cut its dividend — by a sizable 41 percent."