Fannie Mae to Cut Dividend

Another one bites the dust. Fannie Mae just posted a massive first-quarter loss ($2.2 BILLION) and says it will have to chop its quarterly payment to try and get its finances in order.

It really stinks to see another major financial firm making an announcement like this. But 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, most continue to pay and even increase their distributions.

By the way, you can probably tell that I'm not posting here all that much. That's because I've got another blog over here at the Money and Markets website. I encourage you to check it out now.