Cramer Says Masco (MAS) Dividend Will 'Certainly' Be Cut

As Jim Cramer has recently been all about dividend stocks given the current market turmoil, he highlighted several high-yielding stocks on last night's Mad Money.

One stock mentioned was Masco Corp. (NYSE: MAS), a manufacturer, distributor and installer of home improvement and building products. With shares of Masco currently trading around $10.11, its quarterly dividend of $0.235 is yielding 9.41%.

Cramer didn't highlight Masco in order to recommend it, however, Instead, he warned viewers of his CNBC show that Masco's dividend "will certainly be cut due to the company's exposure to housing and its balance sheet that's loaded with debt." Moreover, Cramer said Masco "simply doesn't have the business nor the balance sheet to support its payments."

The Cramer call is interesting as Masco declared its $0.235 dividend just yesterday. The dividend is payable on February 9, 2009, to shareholders of record on January 9, 2009, with an ex-dividend date of January 7.

Masco Corporation manufactures, distributes, and installs home improvement and building products in North America and internationally.

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