According to Standard & Poor’s, the second quarter saw the greatest number of dividend cuts in 18 years.
The firm also reduced its expected 2008 dividend payment on the S&P 500 index from $30.80 to $28.85. Last year, the number was $27.73. So while it’s still forward motion, it’s the lowest increase since 2002.
While that’s grim news, as I’ve been pointing out here, not all firms are cutting … in fact, some are RAISING their payments.
Heck, seven stocks in the Dividend Superstars portfolio made payments in July. And not one holding has reduced its dividend. So there are plenty of places to find solid, reliable yields … you just have to do a little legwork.
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- Wells Fargo Cuts Dividend: The Final Financial to Go After U.S. Bancorp’s recent dividend cut, Wells Fargo (WFC: 30.438 -0.192 -0.63%) was the last major financial dividend payer left...
- Quick note on Pfizer’s Dividend Announcement This week, Pfizer announced that it would not be raising its dividend for the first time in 42 years....
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I guess Bloomberg’s proprietary dividend forecast model was fooled by the ACAS dividend suspension also. In the October DSS it was not only a “maintain”, it was an “increase”!