Business
United Wholesale Mortgage Shares Drop 35% Following Dividend Suspension
UWM has suspended its dividend and announced a capital raise, prompting a significant drop in shares, according to CEO Mat Ishbia.
United Wholesale Mortgage (UWM) saw its shares decline by 35% after the company announced the suspension of its dividend and plans to raise capital. CEO Mat Ishbia stated that these measures are intended to strengthen the company and enhance its liquidity.
Ishbia emphasized that the actions taken are designed to position UWM for success in the future, although no further details regarding the capital raise were disclosed.