JP Morgan Chase cuts dividend to $0.05c a share

It took them to Feb 2009 during a huge crisis to make a move that saves $5b a year in equity???
http://investor.shareholder.com/jpmorganchase/press/releasedetail.cfm?ReleaseID=367145

 

Another reason to rally the futures!!!! Yeehaw!!!

 

After Hours:20.58 Change:+1.07 +5.48% Volume:4276671

 

The cut will hurt many but if funds used to get out of the TAPR earlier will be of good use.