More Dividend Cuts :Hartford Cuts Dividend by 85% To 5 Cent

Posted by Kris | Friday, February 06, 2009 | | 0 comments »

More dividend cuts

See MOTOROLA dividend cuts here

Hartford Financial Services Group Inc. said it intends to cut its quarterly dividend 84% to 5 cents as it swung to a fourth-quarter loss on investment losses.

Shares fell 13% to $13.14 in after-hours trading as the results fell far short of Wall Street's expectations.

"This was clearly the most challenging year in our company's nearly 200-year history," said Chief Executive Ramani Ayer.

He said the company plans to make capital preservation and risk mitigation priorities this year by de-risking the variable annuity ...