Unexpectedly Intriguing!
February 17, 2021

Dividend paying stocks in the U.S. stock market are continuing to coast on the positive momentum they established in the second half of 2020. At the midpoint of the first quarter, we find the number of firms having announced they will reduce their dividends is running well below the levels recorded in the first quarters of 2018, 2019, and 2020.

As can be seen in a chart tracking the cumulative number of dividend cuts by day of the quarter, they are also well within the range that indicates the U.S. economy is relatively healthy.

Cumulative Dividend Cuts and Supsensions in U.S. by Day of Quarter, 2018Q1 vs 2019Q1 vs 2020Q1 vs 2021Q1, Snapshot on 12 February 2021

Here's the sampling of ten companies that declared they are reducing their dividends in the first half of the first quarter of 2021.

Four are oil and gas royalty trusts that pay variable dividends, three are Real Estate Investment Trusts (two of which are in the healthcare sector, one is in the retail sector), and there is one firm each from the mining, banking, and financial services industries. All in all, it has been a quiet quarter for dividend cuts so far.

References

Seeking Alpha Market Currents. Filtered for Dividends. [Online Database].

Wall Street Journal. Dividend Declarations. [Online Database when searched on the Internet Archive].

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