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
CRH plc stock logo
CRH
CRH
9/26/2023$0.25$1.03-75.73%0.4%10/19/202311/22/2023
TDSA
Cabana Target Drawdown 5 ETF
9/25/2023$0.0741$0.0743-0.28%9/26/20239/29/2023
WisdomTree U.S. SmallCap Quality Dividend Growth Fund stock logo
DGRS
WisdomTree U.S. SmallCap Quality Dividend Growth Fund
9/22/2023$0.15$0.2090-28.23%4.36%9/25/20239/28/2023
WisdomTree U.S. Quality Dividend Growth Fund stock logo
DGRW
WisdomTree U.S. Quality Dividend Growth Fund
9/22/2023$0.1550$0.23-32.61%2.89%9/25/20239/28/2023
WisdomTree Interest Rate Hedged High Yield Bond Fund stock logo
HYZD
WisdomTree Interest Rate Hedged High Yield Bond Fund
9/22/2023$0.1060$0.1070-0.93%6.02%9/25/20239/28/2023
WisdomTree Emerging Markets Quality Dividend Growth Fund stock logo
DGRE
WisdomTree Emerging Markets Quality Dividend Growth Fund
9/22/2023$0.16$0.30-46.67%2.83%9/25/20239/28/2023
AADR
AdvisorShares Dorsey Wright ADR ETF
9/22/2023$0.1267$0.1275-0.66%1.04%9/25/20239/29/2023
Small Cap US Equity Select ETF stock logo
RNSC
Small Cap US Equity Select ETF
9/21/2023$0.1296$0.1790-27.60%9/22/20239/29/2023
Siren Nasdaq NexGen Economy ETF stock logo
BLCN
Siren Nasdaq NexGen Economy ETF
9/21/2023$0.0149$0.0928-83.93%9/22/20239/26/2023
RNMC
Mid Cap US Equity Select ETF
9/21/2023$0.0590$0.0850-30.59%9/22/20239/29/2023
U.S. Global Investors, Inc. stock logo
GROW
U.S. Global Investors
9/20/2023$0.0070$0.0075-6.67%2.98%10/5/202310/23/2023
COWG
Pacer US Large Cap Cash Cows Growth Leaders ETF
9/20/2023$0.0223$0.0235-5.13%0.42%9/21/20239/27/2023
Flexshares Real Assets Allocation Index Fund stock logo
ASET
Flexshares Real Assets Allocation Index Fund
9/20/2023$0.2036$0.3190-36.18%2.81%9/21/20239/27/2023
Brandywine Realty Trust stock logo
BDN
Brandywine Realty Trust
9/20/2023$0.15$0.19-21.05%13.7%10/3/202310/18/2023
Valkyrie Bitcoin Strategy ETF stock logo
BTF
Valkyrie Bitcoin Strategy ETF
9/19/2023$0.0730$0.1160-37.07%2.92%9/20/20239/27/2023
Vanguard Russell 1000 Growth ETF stock logo
VONG
Vanguard Russell 1000 Growth ETF
9/19/2023$0.1280$0.1298-1.39%0.73%9/21/20239/26/2023
Vanguard Russell 3000 ETF stock logo
VTHR
Vanguard Russell 3000 ETF
9/19/2023$0.7250$0.8417-13.86%1.48%9/21/20239/26/2023
Permian Basin Royalty Trust stock logo
PBT
Permian Basin Royalty Trust
9/19/2023$0.0220$0.0250-12.00%1.21%9/28/202310/16/2023
Claros Mortgage Trust, Inc. stock logo
CMTG
Claros Mortgage Trust
9/19/2023$0.25$0.37-32.43%11.8%9/28/202310/13/2023
Granite Real Estate Inc. Staple stock logo
GRP.U
Granite Real Estate Inc. Staple
9/18/2023$0.1970$0.2010-1.99%4.22%9/28/202310/16/2023
TSLS
Direxion Daily TSLA Bear 1X Shares
9/18/2023$0.1797$0.1859-3.37%9/19/20239/26/2023
Permianville Royalty Trust stock logo
PVL
Permianville Royalty Trust
9/18/2023$0.0037$0.0090-58.89%17.1%9/28/202310/13/2023
Mesa Royalty Trust stock logo
MTR
Mesa Royalty Trust
9/18/2023$0.0580$0.1362-57.42%11.8%9/28/202310/31/2023
High Income Securities Fund stock logo
PCF
High Income Securities Fund
9/15/2023$0.06$0.0604-0.66%11.2%10/19/202310/31/2023
ArrowMark Financial Corp. stock logo
BANX
ArrowMark Financial
9/15/2023$0.42$0.45-6.67%9.2%10/19/202310/27/2023
InvenTrust Properties Corp. stock logo
IVT
InvenTrust Properties
9/14/2023$0.2150$0.2155-0.23%3.51%9/28/202310/13/2023
Vanguard International Dividend Appreciation ETF stock logo
VIGI
Vanguard International Dividend Appreciation ETF
9/14/2023$0.1820$0.6510-72.04%0.98%9/18/20239/21/2023
Vanguard Total International Stock ETF stock logo
VXUS
Vanguard Total International Stock ETF
9/14/2023$0.2950$0.6180-52.27%2.12%9/18/20239/21/2023
Vanguard International High Dividend Yield ETF stock logo
VYMI
Vanguard International High Dividend Yield ETF
9/14/2023$0.6830$1.1870-42.46%4.24%9/18/20239/21/2023
The Kroger Co. stock logo
KR
Kroger
9/14/2023$0.29$1.16-75.00%2.53%11/14/202312/1/2023
Banco Bradesco S.A. stock logo
BBD
Banco Bradesco
9/12/2023$0.0038$0.0039-1.54%5.5%10/3/202311/13/2023
Banco Bradesco S.A. stock logo
BBDO
Banco Bradesco
9/12/2023$0.0035$0.0035-1.13%5.0%10/3/202311/13/2023
Federated Hermes, Inc. stock logo
FHI
Federated Hermes
9/11/2023$0.0350$0.28-87.50%0.41%9/21/202310/2/2023
DWS Strategic Municipal Income Trust stock logo
KSM
DWS Strategic Municipal Income Trust
9/11/2023$0.0260$0.0295-11.86%4.4%9/15/20239/29/2023
DWS Municipal Income Trust stock logo
KTF
DWS Municipal Income Trust
9/11/2023$0.0235$0.0254-7.48%3.7%9/15/20239/29/2023
Templeton Global Income Fund stock logo
GIM
Templeton Global Income Fund
9/8/2023$0.0298$0.0310-3.87%9.2%9/15/20239/29/2023
Credit Suisse X-Links Silver Shares Covered Call ETN stock logo
SLVO
Credit Suisse X-Links Silver Shares Covered Call ETN
9/7/2023$0.3001$1.3573-77.89%9/19/20239/25/2023
Credit Suisse X-Links Gold Shares Covered Call ETN stock logo
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN
9/7/2023$0.3089$1.0222-69.78%9/19/20239/25/2023
X-Links Crude Oil Shares Covered Call ETN stock logo
USOI
X-Links Crude Oil Shares Covered Call ETN
9/7/2023$0.8151$1.6797-51.47%9/19/20239/25/2023
JOYY Inc. stock logo
YY
JOYY
9/7/2023$0.20$0.51-60.78%2.35%9/25/202310/13/2023
Helmerich & Payne, Inc. stock logo
HP
Helmerich & Payne
9/6/2023$0.25$0.4850-48.45%2.3%11/17/202312/4/2023
Sibanye Stillwater Limited stock logo
SBSW
Sibanye Stillwater
9/6/2023$0.1102$0.27-59.19%8.1%9/21/202310/6/2023
Fomento Económico Mexicano, S.A.B. de C.V. stock logo
FMX
Fomento Económico Mexicano
9/6/2023$1.0001$1.0138-1.35%1.3%11/3/202311/7/2023
BlackRock Debt Strategies Fund, Inc. stock logo
DSU
BlackRock Debt Strategies Fund
9/6/2023$0.0911$0.0911-0.05%10.7%9/14/20239/29/2023
G. Willi-Food International Ltd. stock logo
WILC
G. Willi-Food International
9/5/2023$0.19$0.59-67.80%13.3%9/14/20239/26/2023
VictoryShares US EQ Income Enhanced Volatility Wtd ETF stock logo
CDC
VictoryShares US EQ Income Enhanced Volatility Wtd ETF
9/5/2023$0.1870$0.2095-10.73%9/6/20239/8/2023
MFV
MFS Special Value Trust
9/5/2023$0.0363$0.0368-1.28%11.0%9/12/20239/29/2023
MFS Intermediate High Income Fund stock logo
CIF
MFS Intermediate High Income Fund
9/5/2023$0.0143$0.0145-1.11%10.4%9/12/20239/29/2023
MFS Government Markets Income Trust stock logo
MGF
MFS Government Markets Income Trust
9/5/2023$0.0202$0.0206-1.94%8.0%9/12/20239/29/2023
Invesco Value Municipal Income Trust stock logo
IIM
Invesco Value Municipal Income Trust
9/5/2023$0.0441$0.0458-3.71%4.6%9/14/20239/29/2023
Invesco Trust for Investment Grade New York Municipals stock logo
VTN
Invesco Trust for Investment Grade New York Municipals
9/5/2023$0.0320$0.0331-3.32%3.9%9/14/20239/29/2023
Invesco California Value Municipal Income Trust stock logo
VCV
Invesco California Value Municipal Income Trust
9/5/2023$0.0320$0.0335-4.48%4.2%9/14/20239/29/2023
Invesco Municipal Trust stock logo
VKQ
Invesco Municipal Trust
9/5/2023$0.0346$0.0364-4.95%4.6%9/14/20239/29/2023
Invesco Municipal Opportunity Trust stock logo
VMO
Invesco Municipal Opportunity Trust
9/5/2023$0.0340$0.0358-5.03%4.5%9/14/20239/29/2023
Invesco Trust for Investment Grade Municipals stock logo
VGM
Invesco Trust for Investment Grade Municipals
9/5/2023$0.0342$0.0361-5.26%4.4%9/14/20239/29/2023
BlackRock Capital Allocation Term Trust stock logo
BCAT
BlackRock Capital Allocation Term Trust
9/1/2023$0.1270$0.1275-0.39%10.27%9/14/20239/29/2023
MFS Multimarket Income Trust stock logo
MMT
MFS Multimarket Income Trust
9/1/2023$0.0326$0.0331-1.30%8.9%9/12/20239/29/2023
MFS Intermediate Income Trust stock logo
MIN
MFS Intermediate Income Trust
9/1/2023$0.0205$0.0207-1.01%9.4%9/12/20239/29/2023
PIMCO Corporate & Income Opportunity Fund stock logo
PTY
PIMCO Corporate & Income Opportunity Fund
9/1/2023$0.1188$0.13-8.62%10.14%9/8/202310/2/2023
John Hancock Income Securities Trust stock logo
JHS
John Hancock Income Securities Trust
9/1/2023$0.0868$0.2180-60.18%3.23%9/8/20239/29/2023
Virtus Global Dividend & Income Fund Inc. stock logo
ZTR
Virtus Global Dividend & Income Fund
9/1/2023$0.05$0.08-37.50%11.3%10/11/202310/24/2023
Virtus Global Dividend & Income Fund Inc. stock logo
ZTR
Virtus Global Dividend & Income Fund
8/31/2023$0.05$0.1130-55.75%10.68%10/11/202310/24/2023
NZUS
SPDR MSCI USA Climate Paris Aligned ETF
8/31/2023$0.06$0.0778-22.85%9/1/20239/7/2023
Vanguard Total International Bond ETF stock logo
BNDX
Vanguard Total International Bond ETF
8/30/2023$0.0793$0.0816-2.82%9/1/20239/7/2023
Vanguard Long-Term Corporate Bond ETF stock logo
VCLT
Vanguard Long-Term Corporate Bond ETF
8/30/2023$0.3020$0.3190-5.33%9/1/20239/7/2023
Vanguard Intermediate-Term Corporate Bond ETF stock logo
VCIT
Vanguard Intermediate-Term Corporate Bond ETF
8/30/2023$0.2582$0.2594-0.46%9/1/20239/7/2023
Vanguard Emerging Markets Government Bond ETF stock logo
VWOB
Vanguard Emerging Markets Government Bond ETF
8/30/2023$0.2984$0.3024-1.32%9/1/20239/7/2023
Prudential plc stock logo
PUK
Prudential
8/30/2023$0.1252$0.2372-47.22%1.5%9/7/202310/19/2023
The Bank of Nova Scotia stock logo
BNS
Bank of Nova Scotia
8/30/2023$0.7801$0.7851-0.64%6.6%9/29/202310/27/2023
Nordic American Tankers Limited stock logo
NAT
Nordic American Tankers
8/28/2023$0.13$0.15-13.33%13.0%9/13/202310/5/2023
TDSA
Cabana Target Drawdown 5 ETF
8/25/2023$0.0456$0.0743-38.65%8/28/20238/31/2023
Edison International stock logo
EIX
Edison International
8/24/2023$0.7375$0.7380-0.07%4.24%9/28/202310/31/2023
Lam Research Co. stock logo
LRCX
Lam Research
8/23/2023$0.2750$1.7250-84.06%0.16%9/12/202310/4/2023
Telefônica Brasil S.A. stock logo
VIV
Telefônica Brasil
8/23/2023$0.0273$0.0431-36.82%4.9%9/1/20239/1/2023
TUGN
STF Tactical Growth & Income ETF
8/22/2023$0.2229$0.2280-2.26%12.08%8/23/20238/25/2023
Woodside Energy Group Ltd stock logo
WDS
Woodside Energy Group
8/22/2023$0.80$1.42-43.66%13.5%8/31/20239/28/2023
BHP Group Limited stock logo
BHP
BHP Group
8/22/2023$1.60$1.80-11.11%5.9%9/7/20239/28/2023
Gold Fields Limited stock logo
GFI
Gold Fields
8/22/2023$0.1711$0.2425-29.47%4.0%9/7/20239/21/2023
Lufax Holding Ltd stock logo
LU
Lufax
8/21/2023$0.0390$0.05-22.00%6.2%10/11/202310/30/2023
Medical Properties Trust, Inc. stock logo
MPW
Medical Properties Trust
8/21/2023$0.15$0.29-48.28%8.9%9/13/202310/12/2023
BSCW
Invesco BulletShares 2032 Corporate Bond ETF
8/19/2023$0.0743$0.0810-8.27%4.59%8/21/20238/25/2023
BSMV
Invesco BulletShares 2031 Municipal Bond ETF
8/19/2023$0.0470$0.0472-0.49%2.73%8/21/20238/25/2023
Invesco BulletShares 2031 Corporate Bond ETF stock logo
BSCV
Invesco BulletShares 2031 Corporate Bond ETF
8/19/2023$0.0618$0.0631-2.08%4.81%8/21/20238/25/2023
BSJT
Invesco BulletShares 2029 High Yield Corporate Bond ETF
8/19/2023$0.1168$0.1176-0.71%7.02%8/21/20238/25/2023
Invesco BulletShares 2027 Municipal Bond ETF stock logo
BSMR
Invesco BulletShares 2027 Municipal Bond ETF
8/19/2023$0.0543$0.0544-0.22%2.79%8/21/20238/25/2023
Invesco BulletShares 2026 Municipal Bond ETF stock logo
BSMQ
Invesco BulletShares 2026 Municipal Bond ETF
8/19/2023$0.0497$0.0497-0.06%2.56%8/21/20238/25/2023
Permianville Royalty Trust stock logo
PVL
Permianville Royalty Trust
8/18/2023$0.0090$0.0535-83.18%18.1%8/30/20239/15/2023
BSMW
Invesco BulletShares 2032 Municipal Bond ETF
8/18/2023$0.0645$0.0736-12.40%3.11%8/21/20238/25/2023
Invesco BulletShares 2026 High Yield Corporate Bond ETF stock logo
BSJQ
Invesco BulletShares 2026 High Yield Corporate Bond ETF
8/18/2023$0.1265$0.1273-0.57%6.69%8/21/20238/25/2023
Invesco BulletShares 2024 High Yield Corporate Bond ETF stock logo
BSJO
Invesco BulletShares 2024 High Yield Corporate Bond ETF
8/18/2023$0.1191$0.1232-3.36%6.37%8/21/20238/25/2023
Global X Nasdaq 100 Covered Call ETF stock logo
QYLD
Global X Nasdaq 100 Covered Call ETF
8/18/2023$0.1731$0.1797-3.67%12.03%8/21/20238/29/2023
Granite Real Estate Inc. Staple stock logo
GRP.U
Granite Real Estate Inc. Staple
8/18/2023$0.2010$0.2025-0.74%4.46%8/30/20239/15/2023
Extra Space Storage Inc. stock logo
EXR
Extra Space Storage
8/18/2023$0.61$1.01-39.60%1.92%9/14/20239/29/2023
AngloGold Ashanti Limited stock logo
AU
AngloGold Ashanti
8/14/2023$0.0290$0.1770-83.62%1.2%8/24/20239/18/2023
Petróleo Brasileiro S.A. - Petrobras stock logo
PBR
Petróleo Brasileiro S.A. - Petrobras
8/11/2023$0.2353$1.0890-78.39%26.3%8/22/202311/30/2023
Crescent Capital BDC, Inc. stock logo
CCAP
Crescent Capital BDC
8/11/2023$0.08$0.41-80.49%1.92%9/28/202310/16/2023
Novo Nordisk A/S stock logo
NVO
Novo Nordisk A/S
8/10/2023$0.2209$1.1887-81.42%0.8%8/18/20238/29/2023
Algonquin Power & Utilities Corp. stock logo
AQN
Algonquin Power & Utilities
8/10/2023$0.1080$0.2160-50.00%5.65%9/27/202310/13/2023
Turkcell Iletisim Hizmetleri A.S. stock logo
TKC
Turkcell Iletisim Hizmetleri A.S.
8/9/2023$0.0953$0.1127-15.44%1.6%12/20/202312/29/2023
Banco Bradesco S.A. stock logo
BBD
Banco Bradesco
8/9/2023$0.0039$0.0039-0.51%5.3%9/1/202310/10/2023

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.