April 7 (Reuters) – First Republic Financial institution (FRC.N) mentioned in a regulatory submitting on Friday that it’ll droop funds of quarterly money dividends on its most popular inventory “as a measure of prudent oversight.”
Final month, the financial institution suspended its dividend on frequent inventory after the collapse of Silicon Valley Financial institution.
Massive U.S. banks injected $30 billion in deposits into First Republic Financial institution final month to rescue the lender caught up in a widening disaster triggered by the collapse of two different mid-sized U.S. lenders.
Reporting by Shivani Tanna in Bengaluru; modifying by Diane Craft and Invoice Berkrot
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