Lately it’s seemed like the flurry of dividend cuts we saw earlier in the year has slowed. Then today, Eastman Kodak came out and said its losses more than tripled in the first quarter of 2009.
The firm said it would be trimming executive pay, forcing employees to take an unpaid week off, and suspending the semiannual dividend.
When you consider the daunting transition that Kodak has been trying to undertake, it’s easy to see why the company is struggling. And poor economic conditions are making matters worse.
The shares have been battered, and with the dividend cut, I don’t see much incentive for anyone to continue holding the stock. Not when there are plenty of other companies out there holding up far better during this decline and keeping their shareholder payments intact.
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