June 2025 was another net-negative month for the dividend paying stocks of the U.S. stock market.
That's based on the dividend metadata compiled for the entire market by Standard & Poor. When we add up all the favorable year-over-year dividend actions like dividend increases, extra dividends and resumptions during the month and then subtract all the unfavorable actions, like announced dividend decreases, the resulting single number that summarizes all the dividend changes of June 2025 is -4.
That's an improvement over the much more negative result we reported for May 2025. While still negative, the underlying data points to a mixed picture for U.S. dividend paying firms. The good news is that fewer firms announced reduced dividends than last month, which was tempered by the bad news of fewer firms announcing dividend rises.
All of June 2024's favorable and unfavorable dividend actions are tallied in the following table, which shows how much they changed since June 2024 (year-over-year) and since May 2025 (month-over-month).
| Dividend Changes in June 2025 | |||||
|---|---|---|---|---|---|
| Jun-2025 | May-2025 | MoM | Jun-2024 | YoY | |
| Total Declarations | 4,970 | 4,886 | 84 ▲ | 5,293 | -323 ▼ |
| Favorable | 118 | 203 | -85 ▼ | 113 | 5 ▲ |
| - Increases | 60 | 130 | -70 ▼ | 74 | -14 ▼ |
| - Special/Extra | 58 | 72 | -14 ▼ | 39 | 19 ▲ |
| - Resumed | 0 | 1 | -1 ▼ | 0 | 0 ◀▶ |
| Unfavorable | 13 | 21 | -8 ▼ | 4 | 9 ▲ |
| - Decreases | 13 | 21 | -8 ▼ | 4 | 9 ▲ |
| - Omitted/Passed | 0 | 0 | 0 ◀▶ | 0 | 0 ◀▶ |
The following chart tracks the monthly counts of dividend increases and decreases from January 2004 through June 2025:
The chart reveals the number of firms announcing decreased dividends in June 2025 remains well below the threshold that indicates recessionary conditions are present within the U.S. economy. However, the more-than-two-year downtrend for dividend increases shown on the chart suggests an ongoing tightening operating environment for firms, which are finding it harder to grow their dividends and, by extension, their businesses.
The next chart shows how the dividend increases and decreases reported during the just-completed 2025-Q2 compares with each of the preceding four quarters:
This chart emphasizes the year-over-year reduction in the number of dividend increases between 2024-Q2 and 2025-Q2.
References
Standard and Poor. S&P Market Attributes Web File. [Excel Spreadsheet]. Accessed 1 July 2025.
Image Credit: Microsoft Copilot Designer. Prompt: "An editorial cartoon of a Wall Street bull and bear playing a casino game in which a spinning wheel with two halves, one named 'NET POSITIVE' and the other named 'NET NEGATIVE' has settled on the 'NET NEGATIVE' side", which we followed up with a second prompt: "Add a sign labeled 'DIVIDEND METADATA' above the wheel. Also make the picture more colorful."