RE: It's the dividend ....stupidAgreed Management was stupid to cut the dividend.
It shows they have no vision.
The other big companies did not cut, they ride it through.
This Company cut then, because they fear a depression was approaching
and even now they are behaving as if a depression is still approaching.
The last I check Royal Bank had about 136 million shares of MFC, likewise
other big Institutions have huge holdings of MFC.
They suffered income loss because of this cut plus MFC issued more shares
thus diluting the stock value. These Institutions are pis*ed and so will continue selling out.
Now if there is no depression why not revert back to the old way...
return the dividend and buy back shares.
Sun Life"s CEO cut his salary and not the dividend.
MFC's CEO did the opposite. What an embarrassment !!