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
WPP
WPP
8/8/2022$0.9052$1.2505-27.61 %4.2%10/13/202211/1/2022
BBU
Brookfield Business Partners
8/8/2022$0.0625$0.0630-0.79 %1.0%8/30/20229/29/2022
GIM
Templeton Global Income Fund
8/8/2022$0.0311$0.0327-4.89 %8.9%8/12/20228/31/2022
DDF
Delaware Investments Dividend and Income Fund
8/8/2022$0.0582$0.0610-4.59 %8.3%8/18/20228/26/2022
CUBA
The Herzfeld Caribbean Basin Fund
8/5/2022$0.1740$0.2650-34.34 %15.82%8/19/20229/30/2022
NVO
Novo Nordisk A/S
8/5/2022$0.5836$0.7410-21.25 %1.1%8/12/20228/23/2022
ING
ING Groep
8/5/2022$0.1737$0.2452-29.15 %10.1%8/12/20228/22/2022
CNQ
Canadian Natural Resources
8/5/2022$0.5822$0.5830-0.14 %4.5%9/15/202210/5/2022
AMC
AMC Entertainment
8/4/2022$0.01$0.03-66.67 %0.18%8/12/20228/19/2022
APAM
Artisan Partners Asset Management
8/4/2022$0.60$0.76-21.05 %9.0%8/16/20228/31/2022
GNK
Genco Shipping & Trading
8/3/2022$0.50$0.79-36.71 %11.42%8/15/20228/23/2022
LPG
Dorian LPG
8/3/2022$1.00$2.50-60.00 %8/12/20229/2/2022
FUN
Cedar Fair
8/3/2022$0.30$0.9350-67.91 %2.99%8/30/20229/15/2022
BIP
Brookfield Infrastructure Partners
8/3/2022$0.36$0.54-33.33 %3.62%8/30/20229/29/2022
RGR
Sturm, Ruger & Company, Inc.
8/3/2022$0.47$0.68-30.88 %2.83%8/16/20228/31/2022
PBR
PetrĂ³leo Brasileiro S.A. - Petrobras
8/3/2022$0.1643$1.2984-87.34 %44.8%8/12/20229/8/2022
DMF
BNY Mellon Municipal Income
8/3/2022$0.0240$0.0290-17.24 %4.0%8/15/20228/31/2022
MCY
Mercury General
8/3/2022$0.3175$0.6350-50.00 %3.6%9/14/20229/29/2022
SCI
Service Co. International
8/3/2022$0.25$0.52-51.92 %1.5%9/14/20229/30/2022
TPL
Texas Pacific Land
8/2/2022$3.00$23.00-86.96 %0.73%9/7/20229/15/2022
DRH
DiamondRock Hospitality
8/2/2022$0.03$0.1250-76.00 %1.3%9/29/202210/12/2022
CHK
Chesapeake Energy
8/2/2022$2.32$2.34-0.85 %10.5%8/16/20229/1/2022
SRL
Scully Royalty
8/2/2022$0.26$0.27-3.70 %11.3%8/11/20228/26/2022
HSBC
HSBC
8/2/2022$0.45$0.90-50.00 %4.1%8/18/20229/29/2022
MFV
MFS Special Value Trust
8/2/2022$0.0382$0.0385-0.73 %11.0%8/16/20228/31/2022
MMT
MFS Multimarket Income Trust
8/2/2022$0.0330$0.0340-2.91 %9.4%8/16/20228/31/2022
CIF
MFS Intermediate High Income Fund
8/2/2022$0.0148$0.0150-1.40 %10.1%8/16/20228/31/2022
MIN
MFS Intermediate Income Trust
8/2/2022$0.0226$0.0230-1.96 %9.8%8/16/20228/31/2022
VPV
Invesco Pennsylvania Value Municipal Income Trust
8/2/2022$0.0425$0.0465-8.60 %4.6%8/12/20228/31/2022
DK
Delek US
8/1/2022$0.20$0.31-35.48 %2.94%8/19/20229/6/2022
BCAT
BlackRock Capital Allocation Trust
8/1/2022$0.1040$0.1041-0.10 %8.13%8/12/20228/31/2022
AINV
Apollo Investment
8/1/2022$0.32$0.36-11.11 %10.36%9/19/202210/11/2022
VALE
Vale
8/1/2022$0.3907$0.7180-45.58 %21.9%8/12/20229/9/2022
AZN
AstraZeneca
8/1/2022$0.4650$0.9850-52.79 %2.2%8/11/20229/12/2022
ACRE
Ares Commercial Real Estate
8/1/2022$0.33$0.35-5.71 %9.6%9/29/202210/17/2022
AB
AllianceBernstein
7/30/2022$0.71$0.90-21.11 %6.45%8/5/20228/18/2022
NMM
Navios Maritime Partners
7/30/2022$0.05$3.1875-98.43 %0.67%8/8/20228/12/2022
MCS
Marcus
7/29/2022$0.05$0.17-70.59 %1.17%8/24/20229/15/2022
TAIT
Taitron Components
7/29/2022$0.0450$0.1450-68.97 %4.68%8/11/20228/31/2022
IBTK
iShares iBonds Dec 2030 Term Treasury ETF
7/29/2022$0.0230$0.0380-39.47 %1.29%8/1/20228/5/2022
IBTJ
iShares iBonds Dec 2029 Term Treasury ETF
7/29/2022$0.0270$0.0290-6.90 %1.39%8/1/20228/5/2022
FBIZ
First Business Financial Services
7/29/2022$0.1975$0.22-10.23 %2.4%8/5/20228/18/2022
TAC
TransAlta
7/29/2022$0.0388$0.04-3.00 %1.4%8/31/202210/1/2022
RELX
Relx
7/29/2022$0.4443$0.4820-7.82 %2.1%8/4/20229/13/2022
FTS
Fortis
7/29/2022$0.4149$0.4227-1.85 %3.6%8/18/20229/1/2022
CVE
Cenovus Energy
7/29/2022$0.0814$0.0840-3.10 %1.7%9/14/20229/29/2022
BCS
Barclays
7/29/2022$0.2094$0.2174-3.68 %4.0%8/11/20229/16/2022
GLOP
GasLog Partners
7/29/2022$0.01$0.4345-97.70 %0.72%8/5/20228/11/2022
CLB
Core Laboratories
7/29/2022$0.01$0.55-98.18 %0.22%8/5/20228/29/2022
BCC
Boise Cascade
7/28/2022$0.12$2.62-95.42 %0.68%8/31/20229/15/2022
TRP
TC Energy
7/28/2022$0.6990$0.72-2.92 %5.16%9/29/202210/31/2022
FSBW
FS Bancorp
7/28/2022$0.20$0.30-33.33 %2.71%8/10/20228/25/2022
SJR
Shaw Communications
7/28/2022$0.0767$0.0770-0.39 %3.3%9/14/20229/29/2022
RCI
Rogers Communications
7/28/2022$0.3884$0.3960-1.92 %3.4%9/8/202210/3/2022
RIO
Rio Tinto Group
7/28/2022$2.67$3.76-28.99 %11.4%8/11/20229/22/2022
LYG
Lloyds Banking Group
7/28/2022$0.0385$0.0696-44.71 %4.7%8/5/20229/22/2022
DNB
Dun & Bradstreet
7/28/2022$0.05$0.5225-90.43 %1.28%8/31/20229/22/2022
NOA
North American Construction Group
7/27/2022$0.0620$0.0623-0.48 %2.25%8/30/202210/7/2022
CP
Canadian Pacific Railway
7/27/2022$0.1480$0.1520-2.63 %0.76%9/29/202210/31/2022
RES
RPC
7/27/2022$0.02$0.05-60.00 %1.22%8/9/20229/9/2022
TECK
Teck Resources
7/26/2022$0.0970$0.10-3.00 %1.43%9/14/20229/29/2022
ENB
Enbridge
7/26/2022$0.6680$0.6690-0.15 %5.99%8/12/20229/1/2022
CNI
Canadian National Railway
7/26/2022$0.5690$0.5860-2.90 %1.86%9/7/20229/29/2022
MGYR
Magyar Bancorp
7/26/2022$0.03$0.12-75.00 %1.0%8/3/20228/18/2022
SCCO
Southern Copper
7/25/2022$0.75$1.25-40.00 %8.1%8/10/20228/25/2022
ASML
ASML
7/25/2022$1.3991$4.1903-66.61 %1.2%8/4/20228/12/2022
PFO
Flaherty & Crumrine Preferred Income Opportunity Fund
7/25/2022$0.06$0.0655-8.40 %7.3%8/23/20228/31/2022
DGRW
WisdomTree U.S. Quality Dividend Growth Fund
7/22/2022$0.0650$0.19-65.79 %1.32%7/25/20227/28/2022
DGRS
WisdomTree U.S. SmallCap Quality Dividend Growth Fund
7/22/2022$0.0550$0.14-60.71 %1.59%7/25/20227/28/2022
NOK
Nokia Oyj
7/22/2022$0.0205$0.0210-2.14 %0.7%7/25/20228/9/2022
BX
Blackstone
7/22/2022$1.27$1.32-3.79 %4.7%7/29/20228/8/2022
WMPN
William Penn Bancorporation
7/22/2022$0.03$0.30-90.00 %1.05%7/29/20228/11/2022
NDAQ
Nasdaq
7/21/2022$0.20$0.60-66.67 %1.4%9/15/20229/30/2022
DCP
DCP Midstream
7/21/2022$0.43$0.78-44.87 %5.44%7/28/20228/12/2022
MTR
Mesa Royalty Trust
7/21/2022$0.0955$0.1497-36.20 %9.28%7/28/202210/31/2022
FTHI
First Trust BuyWrite Income ETF
7/20/2022$0.15$0.17-11.76 %8.68%7/21/20227/29/2022
ABST
Absolute Software
7/20/2022$0.0620$0.0640-3.13 %2.62%8/10/20228/26/2022
EHC
Encompass Health
7/20/2022$0.15$0.28-46.43 %1.22%9/30/202210/17/2022
PRT
PermRock Royalty Trust
7/20/2022$0.0907$0.1001-9.39 %12.47%7/28/20228/12/2022
SLG
SL Green Realty
7/20/2022$0.3108$3.7510-91.71 %7.64%7/28/20228/15/2022
ENLC
EnLink Midstream
7/20/2022$0.1125$0.18-37.50 %4.81%7/28/20228/12/2022
MOFG
MidWestOne Financial Group
7/19/2022$0.2370$0.2375-0.21 %3.12%8/31/20229/15/2022
PVL
Permianville Royalty Trust
7/19/2022$0.0215$0.0450-52.22 %10.1%7/28/20228/12/2022
ACI
Albertsons Companies
7/16/2022$0.12$48.00-99.75 %1.84%7/25/20228/10/2022
PEY
Invesco High Yield Equity Dividend Achievers ETF
7/15/2022$0.0660$0.0670-1.49 %3.91%7/18/20227/22/2022
MSB
Mesabi Trust
7/15/2022$0.84$1.04-19.23 %12.17%7/28/20228/20/2022
NJR
New Jersey Resources
7/15/2022$0.3625$0.3630-0.14 %3.3%9/23/202210/3/2022
USOI
Credit Suisse X-Links Crude Oil Shares Covered Call ETNs
7/15/2022$0.1695$0.2529-32.98 %7/19/20227/25/2022
METC
Ramaco Resources
7/14/2022$0.11$0.1130-2.65 %3.99%8/31/20229/15/2022
ILPT
Industrial Logistics Properties Trust
7/14/2022$0.01$0.33-96.97 %0.38%7/22/20228/18/2022
STAG
STAG Industrial
7/14/2022$0.1217$0.1220-0.27 %4.9%8/30/20229/15/2022
LAND
Gladstone Land
7/14/2022$0.0456$0.0460-0.87 %2.4%8/22/20228/31/2022
GLAD
Gladstone Capital
7/14/2022$0.0675$0.0680-0.74 %7.8%8/22/20228/31/2022
IBN
ICICI Bank
7/13/2022$0.1120$0.1124-0.33 %0.59%8/9/20228/10/2022
HNDL
Strategy Shares Nasdaq 7 Handl Index ETF
7/13/2022$0.1210$0.1270-4.72 %7.05%7/14/20227/18/2022
COST
Costco Wholesale
7/13/2022$0.09$0.90-90.00 %0.07%7/28/20228/12/2022
PG
Procter & Gamble
7/12/2022$0.9130$0.9133-0.03 %2.51%7/21/20228/15/2022
GOOD
Gladstone Commercial
7/12/2022$0.1250$0.1254-0.32 %8.01%7/21/20227/29/2022
ASG
Liberty All-Star Growth Fund
7/12/2022$0.11$0.14-21.43 %9.7%7/21/20229/6/2022
USA
Liberty All-Star Equity Fund
7/12/2022$0.16$0.18-11.11 %11.8%7/21/20229/6/2022

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.

Why Does a Company Issue a Dividend Cut?

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.

Is a Dividend Cut Always a Sell Signal?

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.

What is a Dividend Suspension?

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 Yield vs. Dividend Payout

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. 

Understanding the Payout Ratio

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

The Last Word on Dividend Cuts

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.