Wilmington Trust Investors Warned of Underperforming Stocks, Excessive CEO Pay
Newsletter Highlights Deteriorating Earnings That Threaten Dividends
As detailed in the newsletter, Wilmington Trust's poor performance is not limited to its stock price. The company recorded an operating loss in 2008, a sharp reversal from previous years. The company's Board of Directors cut the dividend in half in
After Wilmington Trust released its 2009 1Q earnings, Moody's cut its long-term issuer rating as well as its rating of long-term deposits of the operating bank subsidiary. The newsletter also explains that "sell" ratings were issued on the company's shares after the earnings report. Furthermore, Zacks Investment Research expects a further deterioration in credit quality due to ongoing weakness in sales, and is "concerned about the recent rating downgrades."
Wilmington Trust has received
Audit Integrity, a provider of accounting and governance risk analysis on public companies found that all but 14 of the worst performing companies had excessive executive compensation. According to the analysis, executives who are delivering the worst performance were collecting the highest compensation.
With more than 110,000 members in nine states, including
SOURCE SEIU Local 32BJ