No. of Recommendations: 23
Wells Fargo suspended its dividend payments in 2009 and reinstated them in 2011.
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I would not accept anything from ChatGPt without a fact check.
Probably good advice.
For example, Wells Fargo did not suspend their dividend, they cut it to $0.01 per quarter. The chatbot is wrong.
That sounds like a minor difference, but no: it's exactly the subject you mentioned.
Because the common dividend was not completely axed, all of the preferred dividends had to be paid.
This is presumably why they cut it to a penny but did not eliminate it: to send precisely that message that the preferreds remained whole.
Jim
