Marshall & Ilsley Corp. said Thursday it would cut 830 jobs, or 8% of its workforce, cancel 2008 executive bonuses and slash its dividend to a penny from 32 cents a share, after swinging to a $391 million fourth-quarter loss, from a $494 million profit a year earlier.

Its $1.55 a share loss — driven by a tripling of its loan-loss provision to $850 million — fell far short of Wall Street expectations. Analysts on average had forecast a profit of 7 cents a share, according to Thomson Reuters.

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