I suppose we all saw this coming: Fannie Mae just posted a rather large $2.2 Billion loss for the first quarter, and also announced a dividend cut that will take effect in the third quarter. I can’t say I blame FNM for trying to stem the bleeding, but it is never encouraging when a dividend cut hits the tape.
At least I can cling to the fact that none of the companies in the Dividend Superstars portfolio have reduced their payments yet. In fact, many have continue to increase their distributions.
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