Capital One cuts dividend to 10 cents a share from 40 cents a share

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Capital One Financial Corp. announced late Friday a dividend of 10 cents a share payable on Aug. 20 to stockholders of record as of Aug. 10. That’s a 75% decrease from a previous dividend of 40 cents a share. The bank had signaled the dividend cut when it reported second-quarter results last week. Capital One reported an adjusted loss of $1.61 a share on revenue of $6.6 billion.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.