the big banks just increased their dividends, some doubled them. Come with me and Let's head back to 08 😎😎😎😎
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[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)

Sauce: <https://www.dividend.com/how-to-invest/history-of-bank-stock-dividends/>

TLDR: Most banks increased their dividends before the crash. Coming soon to cnbc cramer shouting Wells fargo is fine

Copies and pasted pieces of the article with the numbers:

Before the financial crisis in 2008, many dividend investors flocked to bank stocks for their attractive dividend yields and stability. Since many of these companies paid such attractive and consistent dividends, and appeared to be large stable companies, investors believed that their investments in bank stocks were safe.

JP Morgan (JPM)

During the years prior to the 2008 crisis, JP Morgan (JPM ) offered a dividend yield around 3%. By 2008, as JPM's share price began to crumble, its yield rose above 4%. By February of 2009, JPM's yield dropped to just 0.55% when the company cut its dividend for the first time since 1990 from 38 cents to 5 cents per share quarterly. This drastic change came as a surprise to many investors. Although many banks had recently slashed dividends, JPM was still considered one of the most stable investment banks, and was one of the last to cut its payout.

This dividend reduction came soon after the company received $25 billion in TARP bailout funds. JPM's CEO Jamie Dimon reported that the cut was unrelated to the bailout, and said that this cut was made to allow JPM to have more financial flexibility. The 87% dividend cut helped the bank save $5 billion annually, which freed up capital to repay bailout funds.

Wells Fargo (WFC)

San Francisco-based Wells Fargo (WFC ) kept up with its peers by offering over a 3% dividend yield in 2006 and 2007. In 2008, WFC's yield shot up to 4.5% as its share price fell, similar to other banks at the time.

Just two months after the bank's purchase of ailing Wachovia in March 2009, the bank cut its dividend 85% from 34 cents to just 5 cents per share, leaving shareholders with a mere 0.70% yield. The cut allowed WFC to save $5 billion a year to help fund its toxic mortgage losses.

Bank of America (BAC)

Charlotte, NC-based Bank of America (BAC ) traded at around $50 prior to the 2008 crisis, and had a dividend yield that exceeded 5% in 2007 and reached 7% by 2008. The banking giant was historically a great choice for dividend investors, but that all changed in 2009 when the bank was forced to cut its dividend in order to comply with government restrictions after taking TARP bailout funds.

In 2009, BAC cut its quarterly dividend to just 1 cent per share. This left investors with just a 0.23% dividend yield. Since the dividend cut, BAC has made attempts to raise its dividend, but has failed to gain government approval.

Citigroup ©

In 2006, Citigroup (C ) had a dividend yield of about 4% which increased to over 4.5% in 2007. By 2008, the New York City-based bank had a dividend yield of over 7% as its stock price began to fall. In 2008, Citi was bailed out by the U.S. government for the first time and given $25 billion in TARP bailout funds. By February 2009, Citi had received its third government bailout. The government owned one-third of its shares.

To comply with the government regulations, the bank suspended its dividend entirely from 2009-2010. In March 2011, the company resumed its dividend, offering a yield of just 0.10%, or 1 cent per share. During this time, C also did a reverse stock split of 10 to 1, making its shares worth approximately $44.

Edit tldr of dividend increases by our friend Walter

<https://i.imgur.com/BH3vMvP.jpg>

Edit 2 Dividend history 2008ish in nominal dolla bills

<https://imgur.com/a/BtA9647>
