Disappearing Dividends At America's Best-Known Companies (DOW, HOG, MAS)

February 12, 2009 5:23 PM EST

In this horrible market, dividends have been one of the few saviors for investors. But the latest trend of big-name companies slashing their dividend is concerning. Sadly, this trend will likely grow.

Today it was Dow Chemical (NYSE: DOW), Harley-Davidson, Inc. (NYSE: HOG) and Masco (NYSE: MAS) cutting their dividends. The cuts were likely much anticipated by the market, with dividend yields of 16%, 10% and 12% before the cuts. What is concerning though is that some of these companies were out defending their dividends not too long ago.

Other recent big-name dividend cuts have come from the likes of Pfizer (NYSE: PFE), Hartford Financial (NYSE: HIG), Macy's (NYSE: M) and Motorola (NYSE: MOT)

Some big-name dividends that appear at risk of a cut include: General Electric (NYSE: GE), Whirlpool Corp. (NYSE: WHR), Caterpillar Inc. (NYSE: CAT), Capital One (NYSE: COF), Wells Fargo & Company (NYSE: WFC) and Alcoa (NYSE: AA).

3M (NYSE: MMM) could be a bright spot. The company just raised their dividend 2% to a quarterly level of $0.51. The dividend yield is 4.1% based on tonight's close.


Related Categories

Dividends
Insiders' Blog
Rumors
Trader Talk

Stocks Mentioned

AA 13.28

+0.00 +0.00%
Volume: 44,023,029
Track AA

CAT 53.53

+0.00 +0.00%
Volume: 15,499,119
Track CAT

COF 35.33

+0.00 +0.00%
Volume: 5,408,975
Track COF

DOW 27.79

+0.00 +0.00%
Volume: 20,333,809
Track DOW

GE 15.60

+0.00 +0.00%
Volume: 97,580,270
Track GE

HIG 22.34

+0.00 +0.00%
Volume: 20,532,939
Track HIG

HOG 22.73

+0.00 +0.00%
Volume: 2,633,961
Track HOG

M 16.71

+0.00 +0.00%
Volume: 9,663,688
Track M

MAS 14.45

+0.00 +0.00%
Volume: 4,654,894
Track MAS

MMM 78.72

+0.00 +0.00%
Volume: 4,252,508
Track MMM

MOT 6.54

+0.00 +0.00%
Volume: 35,057,275
Track MOT

PFE 17.88

+0.00 +0.00%
Volume: 70,977,165
Track PFE

WFC 26.71

+0.00 +0.00%
Volume: 46,845,237
Track WFC

WHR 77.88

+0.00 +0.00%
Volume: 1,724,911
Track WHR


Related Entities



Comments

Photo for Artilce
Mark A Gilley on Feb 14, 2009 07:52 AM

I see today the photo has been changed and I appreciate this decision.

Poor Choice of Photo
Disgusted on Feb 13, 2009 10:53 AM

The photo is the Alfred P. Murrah Federal Building in Oklahoma City which killed 168 people including 19 children. Nice job attaching this picture to a story about dividends. I'd like to think a strongly worded apology is in order.

Poor Photo Choice for Article
Mark A Gilley on Feb 12, 2009 09:20 PM

The photo in this article appears to be of an apartment or office building destroyed by a bomb. While I appreciate reading about the future of company dividends the image of a building ravaged by war or terrorism brings to mind thoughts about tragic pain and loss of life, not a faltering economy. It seems to me the use of this photo boarders on the sensationalism of human suffering to create interest. I think the photo is a poor choice and find it distracts from the content of the article.


Add Your Comment





Follow StreetInsider.com On Twitter