Dividend Decreases

This page gives you a list of the publicly-traded companies, exchange traded funds (ETFs) and real estate investment trusts (REITs) that have announced a decrease (or cut) in the amount of their dividend payments. Learn more about what it means when a company cuts its dividend.

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Country
Market Cap
Stock Type
Consensus Rating
CompanyAnnouncement DateAmountPrevious AmountDecrease AmountYieldEx-DatePayable Date
PIMCO Corporate & Income Opportunity Fund stock logo
PTY
PIMCO Corporate & Income Opportunity Fund
3/1/2024$0.1188$0.13-8.62%9.98%3/8/20244/1/2024
Tri-Continental Co. stock logo
TY
Tri-Continental
3/1/2024$0.2560$0.3770-32.10%3.6%3/8/20243/19/2024
MFS Multimarket Income Trust stock logo
MMT
MFS Multimarket Income Trust
3/1/2024$0.0337$0.0340-1.03%8.5%3/12/20243/28/2024
MFS Intermediate High Income Fund stock logo
CIF
MFS Intermediate High Income Fund
3/1/2024$0.0148$0.0148-0.54%10.1%3/12/20243/28/2024
MFS Intermediate Income Trust stock logo
MIN
MFS Intermediate Income Trust
3/1/2024$0.0203$0.0210-3.29%9.2%3/12/20243/28/2024
MFS Government Markets Income Trust stock logo
MGF
MFS Government Markets Income Trust
3/1/2024$0.0201$0.0203-1.28%8.0%3/12/20243/28/2024
John Hancock Investors Trust stock logo
JHI
John Hancock Investors Trust
3/1/2024$0.2014$0.2648-23.94%6.7%3/8/20243/28/2024
Horizon Technology Finance Co. stock logo
HRZN
Horizon Technology Finance
3/1/2024$0.11$0.16-31.25%11.1%5/16/20246/14/2024
B. Riley Financial, Inc. stock logo
RILY
B. Riley Financial
2/29/2024$0.50$1.00-50.00%11.87%3/8/20243/22/2024
NZUS
SPDR MSCI USA Climate Paris Aligned ETF
2/29/2024$0.02$0.06-66.74%3/1/20243/6/2024
JPMorgan Nasdaq Equity Premium Income ETF stock logo
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
2/29/2024$0.3804$0.4172-8.83%3/1/20243/6/2024
IBTO
iShares iBonds Dec 2033 Term Treasury ETF
2/29/2024$0.0743$0.0863-14.00%3/1/20243/7/2024
NexPoint Real Estate Finance, Inc. stock logo
NREF
NexPoint Real Estate Finance
2/29/2024$0.50$0.6850-27.01%13.93%3/14/20243/28/2024
Ramaco Resources, Inc. stock logo
METCB
Ramaco Resources
2/29/2024$0.2416$0.2487-2.85%9.0%2/29/20243/15/2024
Vanguard Total World Bond ETF stock logo
BNDW
Vanguard Total World Bond ETF
2/28/2024$0.1562$0.1604-2.62%3/1/20243/6/2024
Vanguard Total International Bond ETF stock logo
BNDX
Vanguard Total International Bond ETF
2/28/2024$0.0851$0.0859-0.93%3/1/20243/6/2024
Vanguard Total Corporate Bond Fund stock logo
VTC
Vanguard Total Corporate Bond Fund
2/28/2024$0.2556$0.2591-1.35%3/1/20243/6/2024
Vanguard Total Bond Market ETF stock logo
BND
Vanguard Total Bond Market ETF
2/28/2024$0.2023$0.2119-4.51%3/1/20243/6/2024
Vanguard Short-Term Corporate Bond ETF stock logo
VCSH
Vanguard Short-Term Corporate Bond ETF
2/28/2024$0.2290$0.2340-2.14%3/1/20243/6/2024
Vanguard Long-Term Treasury Index ETF stock logo
VGLT
Vanguard Long-Term Treasury Index ETF
2/28/2024$0.1758$0.1879-6.44%3/1/20243/6/2024
Vanguard Long-Term Corporate Bond ETF stock logo
VCLT
Vanguard Long-Term Corporate Bond ETF
2/28/2024$0.2865$0.3398-15.69%3/1/20243/6/2024
Vanguard Intermediate-Term Corporate Bond ETF stock logo
VCIT
Vanguard Intermediate-Term Corporate Bond ETF
2/28/2024$0.2732$0.2810-2.78%3/1/20243/6/2024
Vanguard Core-Plus Bond ETF stock logo
VPLS
Vanguard Core-Plus Bond ETF
2/28/2024$0.2510$0.2801-10.39%3/1/20243/6/2024
First Trust Enhanced Short Maturity ETF stock logo
FTSM
First Trust Enhanced Short Maturity ETF
2/28/2024$0.24$0.2550-5.88%2/29/20243/5/2024
TTEC Holdings, Inc. stock logo
TTEC
TTEC
2/27/2024$0.06$0.52-88.46%4.6%4/2/20244/30/2024
Devon Energy Co. stock logo
DVN
Devon Energy
2/27/2024$0.44$0.77-42.86%4.0%3/14/20243/28/2024
Woodside Energy Group Ltd stock logo
WDS
Woodside Energy Group
2/27/2024$0.60$0.80-25.00%7.0%3/7/20244/4/2024
Lloyds Banking Group plc stock logo
LYG
Lloyds Banking Group
2/27/2024$0.0460$0.0792-41.94%5.9%4/11/20245/31/2024
Great Ajax Corp. stock logo
AJX
Great Ajax
2/26/2024$0.10$0.11-9.09%9.35%3/14/20243/29/2024
FS KKR Capital Corp. stock logo
FSK
FS KKR Capital
2/26/2024$0.64$0.70-8.57%13.6%3/12/20244/2/2024
Sasol Limited stock logo
SSL
Sasol
2/26/2024$0.5248$0.5321-1.38%6.9%3/14/20243/29/2024
Fidelity National Information Services, Inc. stock logo
FIS
Fidelity National Information Services
2/26/2024$0.36$0.52-30.77%2.14%3/7/20243/22/2024
Hudbay Minerals Inc. stock logo
HBM
Hudbay Minerals
2/26/2024$0.0074$0.0080-7.50%0.3%3/4/20243/22/2024
Vale S.A. stock logo
VALE
Vale
2/23/2024$0.3182$0.4056-21.55%9.7%3/12/20243/26/2024
Diana Shipping Inc. stock logo
DSX
Diana Shipping
2/23/2024$0.0750$0.1250-40.00%10.1%3/4/20243/12/2024
Teck Resources Limited stock logo
TECK
Teck Resources
2/23/2024$0.0925$0.1250-26.00%0.9%3/14/20243/28/2024
Big 5 Sporting Goods Co. stock logo
BGFV
Big 5 Sporting Goods
2/22/2024$0.05$0.1250-60.00%4.19%3/7/20243/22/2024
Sunstone Hotel Investors, Inc. stock logo
SHO
Sunstone Hotel Investors
2/22/2024$0.07$0.13-46.15%2.52%3/27/20244/15/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
WPP plc stock logo
WPP
WPP
2/22/2024$0.2440$0.9536-74.41%5.3%6/7/20247/5/2024
Gerdau S.A. stock logo
GGB
Gerdau
2/22/2024$0.0202$0.0962-78.97%0.6%3/4/20243/19/2024
BHP Group Limited stock logo
BHP
BHP Group
2/22/2024$1.44$1.60-10.00%5.2%3/7/20243/28/2024
NACCO Industries, Inc. stock logo
NC
NACCO Industries
2/22/2024$0.2175$0.2180-0.23%2.6%3/1/20243/15/2024
Newmont Co. stock logo
NEM
Newmont
2/22/2024$0.25$0.40-37.50%3.2%3/4/20243/28/2024
Ares Commercial Real Estate Co. stock logo
ACRE
Ares Commercial Real Estate
2/22/2024$0.25$0.33-24.24%13.07%3/27/20244/16/2024
Pioneer Natural Resources stock logo
PXD
Pioneer Natural Resources
2/22/2024$2.56$3.20-20.00%4.38%3/1/20243/22/2024
Bridge Investment Group Holdings Inc. stock logo
BRDG
Bridge Investment Group
2/21/2024$0.07$0.17-58.82%3.8%3/7/20243/22/2024
Ferroglobe PLC stock logo
GSM
Ferroglobe
2/21/2024$0.0130$0.06-78.33%1.07%3/21/20243/28/2024
Phillips Edison & Company, Inc. stock logo
PECO
Phillips Edison & Company, Inc.
2/21/2024$0.0970$0.0975-0.51%3.37%3/14/20244/1/2024
DRDGOLD Limited stock logo
DRD
DRDGOLD
2/21/2024$0.1058$0.3463-69.45%5.0%3/7/20243/21/2024
Kimbell Royalty Partners, LP stock logo
KRP
Kimbell Royalty Partners
2/21/2024$0.43$0.51-15.69%10.8%3/12/20243/20/2024
Putnam Premier Income Trust stock logo
PPT
Putnam Premier Income Trust
2/21/2024$0.0260$0.0350-25.71%8.57%2/22/20243/1/2024
Delek Logistics Partners, LP stock logo
DKL
Delek Logistics Partners
2/20/2024$0.2450$1.0550-76.78%2.15%2/29/20243/8/2024
Hillenbrand, Inc. stock logo
HI
Hillenbrand
2/20/2024$0.2220$0.2225-0.22%1.92%3/14/20243/29/2024
International Flavors & Fragrances Inc. stock logo
IFF
International Flavors & Fragrances
2/20/2024$0.40$0.81-50.62%2.08%3/21/20244/10/2024
Enact Holdings, Inc. stock logo
ACT
Enact
2/20/2024$0.16$1.23-86.99%2.38%2/27/20243/13/2024
First Trust Low Duration Strategic Focus ETF stock logo
LDSF
First Trust Low Duration Strategic Focus ETF
2/20/2024$0.0688$0.0690-0.29%4.42%2/21/20242/29/2024
Walmart Inc. stock logo
WMT
Walmart
2/20/2024$0.2075$0.57-63.60%0.49%3/14/20244/1/2024
BSMW
Invesco BulletShares 2032 Municipal Bond ETF
2/20/2024$0.0684$0.0776-11.88%2/20/20242/23/2024
OGE Energy Corp. stock logo
OGE
OGE Energy
2/19/2024$0.4180$0.4182-0.05%4.98%4/5/20244/26/2024
Granite Real Estate Inc. Staple stock logo
GRP.U
Granite Real Estate Inc. Staple
2/16/2024$0.2050$0.2080-1.44%4.48%2/28/20243/15/2024
Cross Timbers Royalty Trust stock logo
CRT
Cross Timbers Royalty Trust
2/16/2024$0.1142$0.1153-0.95%10.0%2/28/20243/14/2024
BSJU
Invesco Bulletshares 2030 High Yield Corporate Bond ETF
2/16/2024$0.1375$0.1469-6.44%2/20/20242/23/2024
Quad/Graphics, Inc. stock logo
QUAD
Quad/Graphics
2/16/2024$0.05$0.15-66.67%3.64%2/26/20243/12/2024
Mesa Royalty Trust stock logo
MTR
Mesa Royalty Trust
2/16/2024$0.0252$0.0308-18.18%16.9%2/28/20244/30/2024
JBG SMITH Properties stock logo
JBGS
JBG SMITH Properties
2/14/2024$0.1750$0.2250-22.22%4.23%2/29/20243/15/2024
Nu Skin Enterprises, Inc. stock logo
NUS
Nu Skin Enterprises
2/14/2024$0.06$0.39-84.62%1.7%2/23/20243/6/2024
Barrick Gold Corp stock logo
GOLD
Barrick Gold
2/14/2024$0.0740$0.10-26.00%2.11%2/28/20243/15/2024
Barrick Gold Corp stock logo
GOLD
Barrick Gold
2/14/2024$0.0740$0.10-26.00%2.11%2/28/20243/15/2024
Mercury General Co. stock logo
MCY
Mercury General
2/13/2024$0.3170$0.3175-0.16%2.96%3/12/20243/27/2024
Insteel Industries, Inc. stock logo
IIIN
Insteel Industries
2/13/2024$0.03$2.50-98.80%0.34%3/14/20243/29/2024

The primary benefit of a dividend is the opportunity for investors to collect regular income. They can use their dividend payments as a source of extra income to meet their expenses. Or, in many cases, investors who don’t need the income from their dividends right away can reinvest their dividends to buy more shares of that particular equity. When they do, they benefit from the compounding effect.

With that in mind, it’s easy to understand why investors pay close attention to the amount of the divided (i.e. the dividend payout). At the very least, investors want to see a dividend payout that stays consistent over time. So when a company cuts its dividend it’s almost always a cause for concern.

Dividend cuts signal that a company is going through a period of financial difficulty. In this article, we’ll review why companies issue dividend cuts and why it’s always a signal for investors to proceed with caution before continuing to invest in that stock.

When a company issues a dividend cut it does so primarily for one of two reasons:

  • Declining earnings or increased debts – Although this should be concerning for investors, it may only reflect short-term economic conditions.
  • Reinvesting in the business - Sometimes a company will cut its dividend payment as part of a longer term strategy such as to prepare its balance sheet to absorb an acquisition or to buy back shares of its stock. Repurchasing shares is another way that companies attempt to build shareholder value.

A dividend is almost always paid from a company’s earnings (i.e. profit). The amount of the company’s dividend relative to its total earnings is called the payout ratio. Many companies that have a long track record of issuing dividends have stable, mature businesses with strong balance sheets. This makes their dividend sustainable even if they have a quarter or two of declining earnings. This is because the company has the flexibility to access capital from other sources to maintain its dividend level.

However, for other businesses, weaker earnings mean they have to reallocate money to shore up their balance sheet. That’s because if these companies try to access capital from anywhere other than earnings they can find themselves in a precarious financial position. In this case, a dividend cut may be the least bad option. And that’s a reason why it’s normally at the top of the list when it comes to actions a company will take when they face financial difficulties.

If an investor needs the income from the dividend to meet current expenses, then a dividend cut is almost always a signal to sell. However, for investors who have a longer time horizon, it’s important to understand the exact reason for the dividend cut.

For example, sometimes the dividend cut is based on short-term macroeconomic conditions that are largely outside of the company’s control. For example, at the onset of the Covid-19 pandemic many companies particularly companies such as cruise lines and airlines issued dividend cuts in anticipation of historic demand destruction.

Another action a company may take is to suspend its dividend altogether. This is a more drastic measure than a dividend cut because it means that instead of reducing the amount of its payout it will not be paying any dividend at all.

Dividend payout is the dollar amount per share that a company will pay shareholders on the payment date. Seeing this number remain stable or better yet increase should give investors more confidence that the company is on strong financial footing.

This is different from the dividend yield which is not a reliable indicator of how much money an investor will get from owning a dividend stock. 

The dividend payout lets you calculate a company’s payout ratio. The formula for calculating the company’s payout ratio is dividends paid divided by net income.

Company’s normally calculate several different payout ratios. Some of the most common include:

  • Payout ratio based on trailing 12 months (TTM) of earnings
  • Payout ratio based on the current year’s earnings estimates
  • Payout ratio based on next year’s earnings estimates
  • Payout ratio based on cash flow

Dividends are one way that a company uses to build shareholder equity. In most cases, once a company begins to issue a dividend they will make every effort to sustain the dividend. A dividend cut usually results in a company’s stock price dropping and can cast doubt on a company’s management. However, at times, the company has to cut its dividend in an effort to solidify the company’s balance sheet.

The important thing for investors to understand is why the company is issuing the dividend cut. Once they do, they will have a better understanding of whether they should continue to invest in the company.

Find out why slow and steady wins the race with DividendStocks.com.