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