Last Wednesday, E-Trade Financial (NASDAQ:ETFC) announced that it had received regulatory approval for its plan to dividend $100 million from the bank subsidiary to the parent company. According to the press release, E-Trade will also seek approval for similar $100 million dividend distribution per quarter over the near term. E-Trade provides online brokerage service to retail investors as well as operating a bank that offers deposit accounts and makes real estate mortgage loans. Back in 2007 and 2008, E-Trade suffered billions of losses in real estate loan provisions and write-off at the bank subsidiary and had to be rescued by Citadel. Since then, the company embarked on a long road to recovery by de-leveraging the bank subsidiary and...
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