Carver Falls After Cutting Payout, Seeks More Capital
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Carver Bancorp Inc., owner of the largest African- and Caribbean-American-run bank in the U.S, dropped to its lowest level since March 2009 after halting its dividend and posting a record quarterly loss.
Carver fell 20 cents, or 8 percent, to $2.30 in Nasdaq Stock Market trading at 4:15 p.m. The bank, based in New York’s Harlem neighborhood, discontinued its 2.5-cent dividend, citing pressure from regulators and overdue construction loans. The payout had been as high as 10 cents earlier this year.