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Home›Bonds & Rates›Economy›United Wholesale Mortgage shares plunge after dividend…

United Wholesale Mortgage shares plunge after dividend suspension

The company said it plans to strengthen its balance sheet by suspending its dividend and raising capital to improve liquidity.

Reported · Written up by our desk · Economy

United Wholesale Mortgage, known as UWM, shares fell sharply after the company suspended its dividend and announced it would raise capital, according to a CNBC Finance report.

In a statement, CEO Mat Ishbia said the company is taking actions intended to make UWM stronger, more liquid, and better positioned to compete over the coming years.

The report said the stock dropped about 35% following the dividend suspension and capital-raising move.

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Sources

CNBC FinanceUnited Wholesale Mortgage plunges 35% after suspending dividend and raising capital
CNBC FinanceUnited Wholesale Mortgage plunges 35% after suspending dividend and raising capital

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