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
First Trust RBA American Industrial RenaissanceTM ETF stock logo
AIRR
First Trust RBA American Industrial RenaissanceTM ETF
3/23/2023$0.0290$0.0490-40.82%0.25%3/24/20233/31/2023
First Trust S-Network Future Vehicles & Technology ETF stock logo
CARZ
First Trust S-Network Future Vehicles & Technology ETF
3/23/2023$0.1060$0.2360-55.08%0.87%3/24/20233/31/2023
FTRI
First Trust Indxx Global Natural Resources Income ETF
3/23/2023$0.1570$0.1860-15.59%4.99%3/24/20233/31/2023
DALI
First Trust Dorsey Wright DALI 1 ETF
3/23/2023$0.0630$0.1230-48.78%1.05%3/24/20233/31/2023
DVLU
First Trust Dorsey Wright Momentum & Value ETF
3/23/2023$0.1010$0.2030-50.25%1.92%3/24/20233/31/2023
DVOL
First Trust Dorsey Wright Momentum & Low Volatility ETF
3/23/2023$0.0990$0.1440-31.25%1.6%3/24/20233/31/2023
First Trust Alternative Absolute Return Strategy ETF stock logo
FAAR
First Trust Alternative Absolute Return Strategy ETF
3/23/2023$0.1590$1.7360-90.84%2.13%3/24/20233/31/2023
FAB
First Trust Multi Cap Value AlphaDEX Fund
3/23/2023$0.2690$0.4780-43.72%1.62%3/24/20233/31/2023
FAD
First Trust Multi Cap Growth AlphaDEX Fund
3/23/2023$0.2040$0.2780-26.62%0.87%3/24/20233/31/2023
First Trust Emerging Markets AlphaDEX Fund stock logo
FEM
First Trust Emerging Markets AlphaDEX Fund
3/23/2023$0.0430$0.2040-78.92%0.82%3/24/20233/31/2023
First Trust Europe AlphaDEX Fund stock logo
FEP
First Trust Europe AlphaDEX Fund
3/23/2023$0.0290$0.1710-83.04%0.35%3/24/20233/31/2023
First Trust Large Cap Core AlphaDEX Fund stock logo
FEX
First Trust Large Cap Core AlphaDEX Fund
3/23/2023$0.2960$0.4720-37.29%1.54%3/24/20233/31/2023
First Trust International Developed Cap Strength ETF stock logo
FICS
First Trust International Developed Cap Strength ETF
3/23/2023$0.0540$0.0770-29.87%0.71%3/24/20233/31/2023
First Trust TCW Opportunistic Fixed Income ETF stock logo
FIXD
First Trust TCW Opportunistic Fixed Income ETF
3/23/2023$0.1250$0.14-10.71%3.31%3/24/20233/31/2023
FJP
First Trust Japan AlphaDEX Fund
3/23/2023$0.0840$0.1630-48.47%0.77%3/24/20233/31/2023
FLN
First Trust Latin America AlphaDEX Fund
3/23/2023$0.0370$0.1820-79.67%0.91%3/24/20233/31/2023
FNK
First Trust Mid Cap Value AlphaDEX Fund
3/23/2023$0.1550$0.2570-39.69%1.49%3/24/20233/31/2023
First Trust Mid Cap Core AlphaDEX Fund stock logo
FNX
First Trust Mid Cap Core AlphaDEX Fund
3/23/2023$0.2750$0.3780-27.25%1.28%3/24/20233/31/2023
FNY
First Trust Mid Cap Growth AlphaDEX Fund
3/23/2023$0.0830$0.1110-25.23%0.59%3/24/20233/31/2023
First Trust IndXX NextG ETF stock logo
NXTG
First Trust IndXX NextG ETF
3/23/2023$0.0490$0.1970-75.13%0.29%3/24/20233/31/2023
FPA
First Trust Asia Pacific Ex-Japan AlphaDEX Fund
3/23/2023$0.2360$0.3290-28.27%3.65%3/24/20233/31/2023
First Trust International Equity Opportunities ETF stock logo
FPXI
First Trust International Equity Opportunities ETF
3/23/2023$0.0050$0.1150-95.65%0.05%3/24/20233/31/2023
First Trust Large Cap Value AlphaDEX Fund stock logo
FTA
First Trust Large Cap Value AlphaDEX Fund
3/23/2023$0.2860$0.5320-46.24%1.8%3/24/20233/31/2023
First Trust Large Cap Growth AlphaDEX Fund stock logo
FTC
First Trust Large Cap Growth AlphaDEX Fund
3/23/2023$0.2540$0.2850-10.88%1.14%3/24/20233/31/2023
First Trust Global Tactical Commodity Strategy Fund stock logo
FTGC
First Trust Global Tactical Commodity Strategy Fund
3/23/2023$0.16$2.5280-93.67%2.81%3/24/20233/31/2023
First Trust India NIFTY 50 Equal Weight ETF stock logo
NFTY
First Trust India NIFTY 50 Equal Weight ETF
3/23/2023$0.0530$1.0540-94.97%0.51%3/24/20233/31/2023
First Trust Nasdaq Food & Beverage ETF stock logo
FTXG
First Trust Nasdaq Food & Beverage ETF
3/23/2023$0.0630$0.1450-56.55%0.96%3/24/20233/31/2023
FTXH
First Trust Nasdaq Pharmaceuticals ETF
3/23/2023$0.10$0.1250-20.00%1.57%3/24/20233/31/2023
FTXL
First Trust Nasdaq Semiconductor ETF
3/23/2023$0.0890$0.1870-52.41%0.57%3/24/20233/31/2023
First Trust Nasdaq Oil & Gas ETF stock logo
FTXN
First Trust Nasdaq Oil & Gas ETF
3/23/2023$0.1530$0.19-19.47%2.42%3/24/20233/31/2023
First Trust Nasdaq Bank ETF stock logo
FTXO
First Trust Nasdaq Bank ETF
3/23/2023$0.1440$0.2420-40.50%2.83%3/24/20233/31/2023
First Trust Nasdaq Transportation ETF stock logo
FTXR
First Trust Nasdaq Transportation ETF
3/23/2023$0.1520$0.1670-8.98%2.36%3/24/20233/31/2023
First Trust Dorsey Wright Focus 5 ETF stock logo
FV
First Trust Dorsey Wright Focus 5 ETF
3/23/2023$0.1430$0.2330-38.63%1.32%3/24/20233/31/2023
FVC
First Trust Dorsey Wright Dynamic Focus 5 ETF
3/23/2023$0.1530$0.2710-43.54%1.91%3/24/20233/31/2023
First Trust Small Cap Value AlphaDEX Fund stock logo
FYT
First Trust Small Cap Value AlphaDEX Fund
3/23/2023$0.1350$0.2460-45.12%1.23%3/24/20233/31/2023
First Trust Small Cap Core AlphaDEX Fund stock logo
FYX
First Trust Small Cap Core AlphaDEX Fund
3/23/2023$0.2180$0.33-33.94%1.13%3/24/20233/31/2023
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund stock logo
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund
3/23/2023$0.08$0.2730-70.70%0.35%3/24/20233/31/2023
First Trust Tactical High Yield ETF stock logo
HYLS
First Trust Tactical High Yield ETF
3/23/2023$0.20$0.2050-2.44%6.14%3/24/20233/31/2023
IFV
First Trust Dorsey Wright International Focus 5 ETF
3/23/2023$0.0270$0.1420-80.99%0.65%3/24/20233/31/2023
First Trust NASDAQ Clean Edge Green Energy Index Fund stock logo
QCLN
First Trust NASDAQ Clean Edge Green Energy Index Fund
3/23/2023$0.0520$0.0860-39.53%0.42%3/24/20233/31/2023
First Trust Dorsey Wright Momentum & Dividend ETF stock logo
DDIV
First Trust Dorsey Wright Momentum & Dividend ETF
3/23/2023$0.24$0.46-47.83%3.63%3/24/20233/31/2023
First Trust Rising Dividend Achievers ETF stock logo
RDVY
First Trust Rising Dividend Achievers ETF
3/23/2023$0.2110$0.3760-43.88%1.95%3/24/20233/31/2023
RNDV
First Trust US Equity Dividend Select ETF
3/23/2023$0.1750$0.2130-17.84%2.59%3/24/20233/31/2023
RNLC
First Trust Large Cap US Equity Select ETF
3/23/2023$0.0950$0.15-36.67%1.28%3/24/20233/31/2023
RNMC
First Trust Mid Cap US Equity Select ETF
3/23/2023$0.0840$0.2240-62.50%1.28%3/24/20233/31/2023
RNSC
First Trust Small Cap US Equity Select ETF
3/23/2023$0.0980$0.1970-50.25%1.53%3/24/20233/31/2023
First Trust Nasdaq Artificial Intelligence and Robotics ETF stock logo
ROBT
First Trust Nasdaq Artificial Intelligence and Robotics ETF
3/23/2023$0.0110$0.0540-79.63%0.11%3/24/20233/31/2023
First Trust SMID Cap Rising Dividend Achievers ETF stock logo
SDVY
First Trust SMID Cap Rising Dividend Achievers ETF
3/23/2023$0.1320$0.23-42.61%2.06%3/24/20233/31/2023
First Trust NASDAQ Technology Dividend Index Fund stock logo
TDIV
First Trust NASDAQ Technology Dividend Index Fund
3/23/2023$0.1780$0.4180-57.42%1.37%3/24/20233/31/2023
First Trust S&P International Dividend Aristocrats Fund stock logo
FID
First Trust S&P International Dividend Aristocrats Fund
3/23/2023$0.0280$0.1980-85.86%0.73%3/24/20233/31/2023
PLDT Inc. stock logo
PHI
PLDT
3/23/2023$0.8250$0.9910-16.75%4.9%4/6/20235/8/2023
ASET
FlexShares Real Assets Allocation Index Fund
3/22/2023$0.0860$0.15-42.67%1.19%3/23/20233/29/2023
Vanguard Russell 1000 Index Fund stock logo
VONE
Vanguard Russell 1000 Index Fund
3/22/2023$0.6830$0.7330-6.82%1.53%3/23/20233/28/2023
Vanguard Russell 1000 Growth Index Fund stock logo
VONG
Vanguard Russell 1000 Growth Index Fund
3/22/2023$0.1280$0.1460-12.33%0.84%3/23/20233/28/2023
Vanguard Russell 1000 Value Index Fund stock logo
VONV
Vanguard Russell 1000 Value Index Fund
3/22/2023$0.3210$0.4250-24.47%2.02%3/23/20233/28/2023
Vanguard Russell 3000 Index Fund stock logo
VTHR
Vanguard Russell 3000 Index Fund
3/22/2023$0.6520$0.7910-17.57%1.49%3/23/20233/28/2023
Vanguard Russell 2000 Growth Index Fund stock logo
VTWG
Vanguard Russell 2000 Growth Index Fund
3/22/2023$0.3290$0.5070-35.11%0.83%3/23/20233/28/2023
Vanguard Russell 2000 Index Fund stock logo
VTWO
Vanguard Russell 2000 Index Fund
3/22/2023$0.2180$0.4150-47.47%1.27%3/23/20233/28/2023
Vanguard Russell 2000 Value Index Fund stock logo
VTWV
Vanguard Russell 2000 Value Index Fund
3/22/2023$0.4550$1.0210-55.44%1.59%3/23/20233/28/2023
Western Asset Mortgage Capital Co. stock logo
WMC
Western Asset Mortgage Capital
3/22/2023$0.35$0.40-12.50%15.98%3/31/20234/26/2023
ProShares Equities for Rising Rates ETF stock logo
EQRR
ProShares Equities for Rising Rates ETF
3/21/2023$0.2840$0.37-23.24%2.41%3/22/20233/29/2023
Permian Basin Royalty Trust stock logo
PBT
Permian Basin Royalty Trust
3/21/2023$0.0236$0.0414-43.10%1.21%3/30/20234/14/2023
PermRock Royalty Trust stock logo
PRT
PermRock Royalty Trust
3/21/2023$0.0503$0.0602-16.51%9.26%3/30/20234/14/2023
SAP SE stock logo
SAP
SAP
3/21/2023$2.1864$2.66-17.80%1.3%5/12/20235/22/2023
Mesa Royalty Trust stock logo
MTR
Mesa Royalty Trust
3/21/2023$0.1581$0.2012-21.42%10.2%3/30/20234/28/2023
BSMQ
Invesco BulletShares (R) 2026 Municipal Bond ETF
3/17/2023$0.0490$0.05-2.00%2.49%3/20/20233/24/2023
TSI
TCW Strategic Income Fund
3/17/2023$0.06$0.1530-60.78%4.84%3/30/20234/14/2023
Invesco DWA SmallCap Momentum ETF stock logo
DWAS
Invesco DWA SmallCap Momentum ETF
3/17/2023$0.0550$0.1390-60.43%0.31%3/20/20233/24/2023
Invesco KBW Bank ETF stock logo
KBWB
Invesco KBW Bank ETF
3/17/2023$0.3340$0.4070-17.94%3.29%3/20/20233/24/2023
Invesco KBW Property & Casualty Insurance ETF stock logo
KBWP
Invesco KBW Property & Casualty Insurance ETF
3/17/2023$0.4310$0.4880-11.68%2.13%3/20/20233/24/2023
KBWR
Invesco KBW Regional Banking ETF
3/17/2023$0.3890$0.4020-3.23%3.33%3/20/20233/24/2023
Granite Real Estate Inc. Staple stock logo
GRP.U
Granite Real Estate Inc. Staple
3/17/2023$0.1950$0.20-2.50%3.85%3/30/20234/14/2023
Granite Real Estate Inc. Staple stock logo
GRP.U
Granite Real Estate Inc. Staple
3/17/2023$0.1950$0.20-2.50%3.85%3/30/20234/14/2023
Invesco DWA Momentum ETF stock logo
PDP
Invesco DWA Momentum ETF
3/17/2023$0.1260$0.2390-47.28%0.69%3/20/20233/24/2023
Invesco Dividend Achievers ETF stock logo
PFM
Invesco Dividend Achievers ETF
3/17/2023$0.18$0.1830-1.64%2.03%3/20/20233/24/2023
Invesco Golden Dragon China ETF stock logo
PGJ
Invesco Golden Dragon China ETF
3/17/2023$0.0230$0.0830-72.29%0.33%3/20/20233/24/2023
Invesco Water Resources ETF stock logo
PHO
Invesco Water Resources ETF
3/17/2023$0.0790$0.1330-40.60%0.62%3/20/20233/24/2023
Invesco Global Water ETF stock logo
PIO
Invesco Global Water ETF
3/17/2023$0.0180$0.0720-75.00%0.21%3/20/20233/24/2023
PRN
Invesco DWA Industrials Momentum ETF
3/17/2023$0.2060$0.2960-30.41%0.9%3/20/20233/24/2023
PSL
Invesco DWA Consumer Staples Momentum ETF
3/17/2023$0.2710$0.82-66.95%1.31%3/20/20233/24/2023
PUI
Invesco DWA Utilities Momentum ETF
3/17/2023$0.1040$0.1810-42.54%1.27%3/20/20233/24/2023
PXI
Invesco DWA Energy Momentum ETF
3/17/2023$0.23$0.5980-61.54%2.46%3/20/20233/24/2023
PYZ
Invesco DWA Basic Materials Momentum ETF
3/17/2023$0.1830$0.2230-17.94%0.91%3/20/20233/24/2023
Invesco QQQ Trust stock logo
QQQ
Invesco QQQ Trust
3/17/2023$0.4720$0.6550-27.94%0.62%3/20/20234/28/2023
Invesco NASDAQ Next Gen 100 ETF stock logo
QQQJ
Invesco NASDAQ Next Gen 100 ETF
3/17/2023$0.0490$0.0770-36.36%0.8%3/20/20233/24/2023
PSCI
Invesco S&P SmallCap Industrials ETF
3/17/2023$0.1690$0.2790-39.43%0.74%3/20/20233/24/2023
PSCU
Invesco S&P SmallCap Utilities & Communication Services ETF
3/17/2023$0.1910$0.2620-27.10%1.39%3/20/20233/24/2023
PSCD
Invesco S&P SmallCap Consumer Discretionary ETF
3/17/2023$0.3290$0.3440-4.36%1.54%3/20/20233/24/2023
Algonquin Power & Utilities Corp. stock logo
AQN
Algonquin Power & Utilities
3/17/2023$0.1085$0.1810-40.06%10.95%3/30/20234/14/2023
Credit Suisse X-Links Crude Oil Shares Covered Call ETNs stock logo
USOI
Credit Suisse X-Links Crude Oil Shares Covered Call ETNs
3/17/2023$2.8435$3.3335-14.70%3/21/20233/27/2023
Permianville Royalty Trust stock logo
PVL
Permianville Royalty Trust
3/16/2023$0.0190$0.0192-1.04%10.36%3/30/20234/14/2023
Vanguard International Dividend Appreciation Index Fund stock logo
VIGI
Vanguard International Dividend Appreciation Index Fund
3/16/2023$0.3190$0.4430-27.99%1.83%3/20/20233/23/2023
Vanguard Total Intl Stock Idx Fund stock logo
VXUS
Vanguard Total Intl Stock Idx Fund
3/16/2023$0.12$0.6290-80.92%0.92%3/20/20233/23/2023
Vanguard International High Dividend Yield Fund stock logo
VYMI
Vanguard International High Dividend Yield Fund
3/16/2023$0.3140$0.6680-52.99%2.12%3/20/20233/23/2023
Park Hotels & Resorts Inc. stock logo
PK
Park Hotels & Resorts
3/15/2023$0.15$0.25-40.00%4.9%3/30/20234/17/2023
JOYY Inc. stock logo
YY
JOYY
3/15/2023$0.5070$0.51-0.59%7.24%4/12/20234/28/2023
Chicago Atlantic Real Estate Finance, Inc. stock logo
REFI
Chicago Atlantic Real Estate Finance
3/15/2023$0.47$0.76-38.16%14.46%3/30/20234/14/2023
SNLN
Highland/iBoxx Senior Loan ETF
3/14/2023$0.1020$0.1280-20.31%8.42%3/15/20233/31/2023
VOXR
Vox Royalty
3/14/2023$0.0080$0.01-20.00%1.36%3/30/20234/14/2023
Calavo Growers, Inc. stock logo
CVGW
Calavo Growers
3/14/2023$0.10$0.2870-65.16%1.71%3/23/20234/6/2023

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.