National City cutting its dividend 49 percent, slashing 900 jobs

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National City cutting its dividend 49 percent, slashing 900 jobs

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01-02-2008, 12:30 PM

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National City cutting its dividend 49 percent, slashing 900 jobs

Regional bank National City Corp. said Wednesday it is slashing its dividend 49 percent and is shutting down its wholesale mortgage division, eliminating 900 jobs, due to weakened housing and credit markets.The dividend was reduced to 21 cents per share from 41 cents per share, payable Feb. 1 to shareholders of record as of Jan. 14.

National City cutting its dividend 49 percent, slashing 900 jobs - Examiner.com

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