How Will BNP Paribas (BNPQY) Stock Respond to Dividend Cut, Bond Sale?

NEW YORK (TheStreet) -- Shares of BNP Paribas SA  (BNPQY) are up 0.24% to $33.71 on heavy trading volume as the Paris-based bank plans to cut its dividend and sell billions of euros of bonds to investors next week as it settles the U.S. investigation into its alleged violation of U.S. sanctions, sources told the Wall Street Journal.

The settlement is expected to be announced on Monday.

BNP Paribas is expected to plead guilty to criminal charges and pay up to $9 billion, sources added.

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