Thirty-three TARP recipients missed a scheduled dividend payment to taxpayers last month, according to the Treasury Department, including 18 banks that missed a payment for the first time.
The 33 banks that missed dividend payments in August have received $4.5 billion of TARP money. The biggest is CIT. Previously it paid $44 million of dividends, but with a bankruptcy filing looking likely, Treasury’s $2.3 billion investment seems headed toward zero.
33 TARP Recipients Miss Dividend Payments
CalculatedRisk quotes a Reuters blog post about the financial institutions which did take TARP money but now failed on the dividend payment that came with it: