Bofa to raise $10bn and halve its dividend
Bank of America will raise $10bn in capital and halve its dividend to boost its financial strength, it said yesterday as it reported that its thirdquarter earnings had fallen to $1.2bn - a third of the level of a year ago.
Commonwealth Bank of Australia, that nation's second-biggest lender, said it may have to trim dividends as bad debts rise and cash earnings decline.