Beaten Down, JPMorgan Shares' Dividend Yield Now 3.3% - And Other News Told In Charts
Jamie Dimon Scraps Buybacks, Maintains JPMorgan Dividend - Yielding 3.3%
In a move of apparent contrition, JPMorgan (JPM) chief Jamie Dimon is saying the bank will suspend a $15 billion share repurchase program, Reuters reported. This seems to be meant to calm investors and regulators worked up about the May 10 announcement that one of the bank’s traders – the now-famous “London Whale” -- lost $2 billion or more in a bad derivatives bet. The stock has lost 20% since news of the trade broke.
Simon Property’s CEO Pay Deal Nixed By Holders
Dow Jones is reporting that shareholders have rejected Simon Property’s (SPG) executive compensation plan, which would give chief executive David Simon an annual base salary of $1.25 million and one million shares. Shareholders are miffed that Simon’s comp is the second-highest in the REIT world. The company’s counter-argument goes something like this:
Google Seems To Have Pissed Off the EU Competition Chief
The Independent, reporting on Google’s (GOOG) European woes, says EU competition chief Joaquin Alumnia is giving Google just “a matter of weeks” to change its internet search policy or face an investigation – and fines that could reach 10% of revenues. Google’s been accused, by Microsoft (MSFT) among others, of favoring its own services in its search rankings and advertising system.
Regardless of the merits of the case, Microsoft seems to be doing okay: