The Traderszone Network

Published in TZ Latest News 25 September, 2015 by The TZ Newswire Staff

JPMorgan reaped $150 million dividend from Henry Bath before sale: filing

JPMorgan Chase & Co reaped a $150 million dividend from its metals storage business Henry Bath & Son before selling its physical commodities business last October, as the firm reported its first loss in over a decade, a filing on Thursday showed. A review of filings to the UK business registry revealed the payout to the Wall Street bank and the loss were the first since 2002 when Henry Bath was held by Enron, the failed energy trader and one of its best-known owners in its 200-year history. JPMorgan officials were not immediately available for comment on the matter.