In this article, we discuss dividend cuts and suspensions resulting from the coronavirus and oil price wars. Currently,
49 57 90 100 118 134 178 219 250 268 272 282 286 296 302 304 307 309 318 321 325 340 3 49 354 378 393 394 404 412 422 426 430 436 446 456 466 476 481 486 491 496 501 506 510 511 518 521 523 526 527 530 531 538 541 542 544 548 551 557 560 total companies have cut the dividend since the end of January 2020 to June 29, 2022. This number is now well over approximately 10% of all companies that pay dividends on the NYSE and NASDAQ.
Please see the list of coronavirus dividend cuts and suspensions at the bottom of the article. The list is in table format and is searchable and sortable. This tracker is updated monthly at the moment.
Monthly dividend statistics are found on my Dividend Increases tracker.
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Most of the companies that have cut or suspended the dividend due to being impacted by COVID-19 are in the travel, leisure, hospitality, restaurant, REITs, or energy sectors. The most prominent coronavirus dividend cuts and suspensions to date are Occidental Petroleum (OXY) – twice, Boeing (BA), Ford (F), General Motors (GM), Macy’s (M), Cracker Barrel (CBRL), Marriott International (MAR), GAP (GPS), Disney (DIS), Expedia (EXPE), Tanger Factory Outlet Centers (SKT), Southwest Airlines (LUV), Halliburton (HAL), Rollins (ROL), Urstadt Biddle Properties (UBA), Chico’s FAS (CHS), Kite Realty Group (KRG), Ventas (VTR), Host Hotels & Resorts (HST), Simon Property Group (SPG), Dominion Energy (D), Levi Strauss (LEVI), Wells Fargo (WFC), Macerich (MAC), BP PLC (BP), Vornado Realty (VNO), Capital One Financial (COF), Alliance Bernstein (AB). Blackstone Group (BX), Wyndham Destinations (WYND), Daimler AG (DDAIF), Renault S.A. (RNSDF), Prudential PLC (PUK), Yum China Holdings (YUMC), R.R. Donnelly & Sons (RRD), Foot Locker (FL), Kimco Realty (KIM), Dick’s Sporting Goods (DKS), American Eagle Outfitters (AEO), Anheuser-Busch InBev (BUD), Molson Coors Beverage (TAP), Spirit AeroSystems Holdings (SPR), Energy Transfer LP (ET), Extended Stay American (STAY), Danone SA ADR (DANOY), AT&T (T), International Paper (IP), Compass Minerals (CMP), PPL Corporation (PPL), Exelon (EXC), and several others.
April 2020 was a terrible month as the number of dividend cuts and suspensions was one of the worst on record. According to a recent article, the number of coronavirus dividend cuts and suspensions exceeded the number increasing the dividends for the first time since January 2009. But note that the total number of dividend cuts and suspensions will likely exceed the number during the Great Recession from 2008 – 2009. Thus, even fast-food company dividends may be at risk. This fact points to the need for thoroughly assessing dividend safety.
Note that I acknowledge this list is likely not complete. If you have a company to add to the list that I have missed, please post it to the comments below with the source or contact me on Twitter. The list also generally does not include closed-end funds or ‘CEFs’ or stocks that do not trade on U.S. exchanges for the most part. However, several Canadian stocks and stocks from other countries on the list trade in the U.S. and their home country. There are also European stocks that trade as ADRs on U.S. exchanges on the list. I will add a stock not on the list if my readers provide the ticker and the source. I am currently updating the list of coronavirus dividend cuts and suspensions weekly. Recently, I have started to add some stocks that I previously missed.
Coronavirus Dividend Cuts and Suspensions Analyses
I have written several detailed articles on companies that have cut or suspended their dividends. Some of these are favorites of dividend growth investors or investors seeking income.
- You can read my article on the cut and safety of Occidental Petroleum’s dividend. Occidental cut the regular quarterly dividend twice all the way from $0.76 per share to $0.01 per share. Ouch!
- I have also written an article on TJX Companies (TJX) surprising dividend suspension.
- An article on the second dividend cut in a the past couple of years for Anheuser-Busch InBev (BUD).
- My discussion on the suspension of Six Flags (SIX) dividend.
- My analysis of Helmerich & Payne (HP) cut to the dividend after 47 straight years of increases.
- My article on the historic dividend cut by Royal Dutch Shell (RDS.A) or (RDS.B) is also good reading.
- I also published an article on Disney’s dividend suspension (DIS).
- My recent article on the dividend suspension of Tanger Factory Outlet Centers (SKT) is worth reading.
- The dividend suspension for Ross Stores (ROST) was a big deal for the dividend growth community. The company was relatively new to the Dividend Aristocrat list.
- Rollins (ROL) dividend was cut. This was a stock many dividend growth investors thought would become a Dividend Aristocrat and had a very safe dividend.
- My article on Southwest Airlines (LUV) dividend suspension was very popular.
- Urstadt Biddle Properties (UBA) cut their dividend after 26 years of dividend growth. The REIT is no longer a Dividend Champion.
- The dividend suspension by Meredith Corporation (MDP) after 27 years due to a decline in advertising revenue and leverage is interesting to read.
- I also published an article on the dividend cut by Ventas (VTR) due to declining occupancy in senior housing properties.
- My article on the Simon Property Group (SPG) and its dividend cut was very popular.
- The dividend cut by Dominion Energy (D) was not well received by investors. It was a favorite for this seeking income.
- My article on the deep dividend cut by Wells Fargo & Company (WFC) discusses declining net interest margin and limitations by the U.S. Federal Reserve.
- The dividend cut by Macerich Company (MAC) was steep.
- The divided cut by BP PLC (BP) was the second by an oil major. The divided will likely be fixed moving forward.
- Foot Locker (FL) first suspended its dividend and then reinstated it at a lower level making it effectively a dividend cut.
- My article on Kimco Realty (KIM) covers the dividend suspension, reinstatement at a lower level, and effective dividend cut.
- I discuss Wyndham Destinations (WYND) dividend cut.
- Darden Restaurants (DRI) suspended then reinstated the dividend at a lower level. This is effectively a dividend cut.
- Marriott International (MAR) suspended its dividend early in the coronavirus pandemic.
- Molson Coors Beverage (TAP) suspended its dividend due to local government restrictions and and social distancing.
- Cheesecake (CAKE) Factory dividend was suspended as sales dropped and local government restricted the number of diners.
- The divided cut by AT&T (T) was unexpected and big.
- International Paper (IP) was an unexpected dividend cut.
Dividend Grower and Dividend Paying Stocks Perform Better Over Time
Over more extended periods, dividends tend to go up due to higher company earnings and inflation. Most of us know that stocks that grow or pay a dividend tend to have higher long-term returns. These stocks tend to have not only higher returns but also lower volatility as measured by beta. Of course, a dividends’ contribution to total return varies by decade. But from 1930 to 2018, dividends provided 43% of total returns.
Between 1973 and 2021, Dividend Growers & Initiators had total annual returns of 10.68% with a beta of 0.88. Dividend Payers had total annual returns of 9.60% with a beta of 0.94. Companies that did not change the dividend had total annual returns of 7.08% with a beta of 1.01. Companies that did not pay a dividend had total annual returns of 4.79% with a beta of 1.18. But the worst were companies that cut or eliminated the dividend with total annual returns of (-0.46%) and a beta of 1.22. It seems simplistic then to choose stocks that pay a dividend.
Short-Term Declines in Dividends Have Happened in The Past
But with that said, there are short-term declines in periods of economic contraction. For example, dividends of many banks, automotive companies, and REITs were cut during the Great Recession. A similar event also happened during World War I, The Great Depression, and World War II. Moreover, some of the declines were severe. For example, an article on Seeking Alpha indicates that:
- Post-World War One recession and the Spanish flu pandemic (1918-1926): Dividends declined by as much as 33%
- The Great Depression (1931-1937): Dividends declined by as much as 55%
- World War Two and related recessions (1937-1949): Dividends declined by as much as 48%
- Global Financial Crisis (2008-2012): Dividends declined by as much as 24%
Impact of the Coronavirus Pandemic on Dividends
The exact magnitude of dividend cuts and suspensions resulting from the coronavirus pandemic is unknown at this time. However, a recent study from the University of Chicago says that dividend growth will be reduced by as much as 28%. Note that the paper does not address the magnitude of dividend cuts.
Another recent article has said that companies are suspending dividends at the fastest pace in years. Reportedly, the cuts and suspensions have saved $23 billion for S&P 500 companies. A recent article also pointed out some large companies that are at risk for a dividend cut or suspension due to the coronavirus. Some of these have already done so.
A recent post about the S&P 500 Index indicates that the U.S. dollar value of dividend cuts outpaced dividend increases for the six months through June 2020. This period is unlike comparable six-month periods through June since 2013. The number of increases still outpaced the number of decreases. But you can see in the table below that the number of cuts or negative actions is more than 5X the previous peak. The magnitude of the increases must be small compared to the cuts.
Globally, dividends fell by $108.1 billion to $382.2 billion or 22% in the second quarter of 2020, according to the Janus Henderson Global Dividend Index commentary. The geographic areas that were most affected were the UK and Europe. In Europe, 54% of companies recused their dividend, and two-thirds of that suspended their dividends. The worst declines were in France, Spain, and Italy. Dividends in Switzerland and Germany faired better. In the UK, more than half of the companies cut or suspended their dividends. The rest of the world did better than Europe and the UK. North America did reasonably well and was flat the second quarter.
Despite the attention-grabbing headlines, many North American companies still raised their dividends, and the Canadian market had a net gain. You can see the relative difference between dividends paid and cuts by country in the figure below.
From an industry perspective, the two sectors most affected were financials and consumer discretionary. This fact was due to dividends cuts and suspensions by banks in Europe and the UK. On the other hand, the healthcare and communications sectors were more resistant to dividend cuts. You can see the relative difference between dividends paid and cuts by industry in the figure below.
The relative difference between the magnitudes of the cuts in each sector can be seen below.
Why are Dividends Cut or Suspended?
The main reason for the coronavirus dividend cuts or suspensions is to improve financial strength, including reducing cash flow burn rates. For some companies, the dividend is an important cash flow requirement. However, companies are also trying to improve liquidity and strengthen the balance sheet. Right now, most companies are raising cash on hand to deal with the uncertainties associated with the COVID-19 pandemic. Cash on hand will also permit companies to restart operations after the lockdowns and travel restrictions are lifted. This time will be a transition for most companies, and they will need liquidity to pay employees, order supplies and merchandise, and restart the dividends.
My statements in the preceding paragraph are supported by a recent research paper published on June 16, 2020. The article was titled “Dividend Suspensions and Cash Flow Risk during the Covid-19 Pandemic” by Professors David Pettunuzzo (Brandeis), Riccardo Sabbatucci (Stockholm School of Economics), and Allan Timmermann (UCSD). One finding was that businesses with high leverage and low profitability were more likely to have suspended their dividend during the coronavirus pandemic. Another interesting point was that dividend suspensions had a significant impact on expected future dividend growth and helped predict declines in measures of economic activity.
The researchers also compared dividend suspensions during the sub-prime mortgage crisis of the Great Recession period with dividend suspensions during the COVID-19 pandemic. Dividend suspensions were high in the Consumer Non-Durables, Consumer Durables, and Finance sectors during the Great Recession. On the other hand, dividend suspensions are high in Manufacturing, Oil, Gas, and Coal; Wholesale, Retail and Some Services; and Other sectors during the pandemic. Interestingly, there were zero dividend suspensions in the Utilities category (to date) during both periods. Utilities provide an essential service. Take a look at the table below.
Additional Coronavirus Dividend Cuts or Suspensions Are Possible
Investors who depend on dividends for much of their income should be ready for further cuts and suspensions in 2020. More companies will likely assess their dividends as Q2 2020 progresses. This action is mostly a matter of survival for them as they shore up their cash balances in the face of reduced consumer demand. A company has several choices to reduce cash flow and preserve cash balances. These include but are not limited to suspending share buybacks, reducing capital expenditures, cutting labor and operating costs, cutting executive salaries, drawing down revolving credit lines, and cutting or suspending the dividend.
Dealing With Investor Uncertainty
What to do in the near term? It will likely be challenging to stay motivated on the road to financial independence. But most dividend growth investors trying to build wealth know that they need an emergency fund to deal with unexpected events. Indeed, the coronavirus pandemic qualifies as one, and in my mind, it is a ‘Black Swan’ type of event. The emergency fund should be enough for at least three months of expenses at a minimum, in my opinion, and obviously, more extended periods are even better. One may also need to cut costs to reduce cash burn rates.
Because most of the U.S. is under travel restrictions and social distancing orders, this is likely a relatively easy task. No one is taking expensive vacations or eating dinner out at a nice restaurant at the moment. But a challenging exercise of evaluating and cutting non-essential expenses is essential to reduce cash burn rates.
2020 – 2022 Coronavirus Dividend Cuts and Suspensions List – Updated
Dividend Cuts and Suspensions - Updated 06/29/22
|Company||Ticker||Date||Initial Dividend||Current Dividend||Link|
|Sculptor Capital Management||SCU||05/16/22||$0.28||$0.11||Source|
|Eagle Bulk Shipping||EGLE||05/12/22||$2.05||$2.00||Source|
|CVR Partners, LP||UAN||05/11/22||$5.24||$2.26||Source|
|Sissecam Resources LP||SIRE||05/06/22||$0.65||$0.50||Source|
|Ellington Residential Mortgage REIT||EARN||05/02/22||$0.10||$0.08||Source|
|Western Asset Management||WEC||03/23/22||$0.06||$0.04||Source|
|Orchid Island Capital||ORC||03/16/22||$0.055||$0.045||Source|
|Lument Financial Trust||LFT||03/15/22||$0.09||$0.06||Source|
|Bridge Investment Group||BRDG||03/09/22||$0.24||$0.21||Source|
|James River Group Holdings||JRVR||03/02/22||$0.30||$0.05||Source|
|Sturm, Ruger & Company||RGR||11/03/21||$1.00||$0.79||Source|
|Sprague Resources LP||SRLP||10/25/21||$0.6675||$0.4338||Source|
|Permian Basin Royalty Trust||PBT||10/19/21||$0.0231||$0.0224||Source|
|San Juan Basin Royalty Trust||SJT||09/21/21||$0.0847||$0.0369||Source|
|PermRock Royalty Trust||PRT||09/21/21||$0.06||$0.05||Source|
|Permianville Roylaty Trust||PVL||09/17/21||$0.031||$0.021||Source|
|International General Insurance||IGIC||08/12/21||$0.17||$0.16||Source|
|Washington Real Estate||WRE||07/29/21||$0.30||$0.17||Source|
|Hoegh LNG Partners LP||HMLP||07/27/21||$0.44||$0.01||Source|
|Shell Midstream Energy Partners L.P.||MPLX||07/22/21||$0.46||$0.30||Source|
|National Health Investors||NHI||06/03/21||$1.10||$0.90||Source|
|Acadia Realty Trust||AKR||03/05/21||$0.29||$-||Source|
|Danone S.A. ADR||DANOY||02/19/21||€ 2.10||€ 1.94||Source|
|Corby Spirit and Wine||CBYDF||02/11/21||$0.22||$0.21||Source|
|Pzena Investment Management||PZN||02/02/21||$0.30||$0.25||Source|
|RioCan Real Estate Investment Trust||RIOCF||01/15/21||$0.12||$0.08||Source|
|RiverNorth Opportunities Fund||RIV||01/05/21||$0.18||$0.17||Source|
|Crazy Woman Creek Bancorp||CRZY||12/02/20||$0.33||$0.30||Source|
|United Fire Group||UFCS||11/20/20||$0.33||$0.15||Source|
|Nordic American Tankers||NAT||11/17/20||$0.20||$0.04||Source|
|Rattler Midstream LP||RTLR||11/05/20||$0.29||$0.20||Source|
|Computer Programs and Systems||CPSI||11/05/20||$0.10||$-||Source|
|Delek US Holdings||DK||11/04/20||$0.31||$-||Source|
|North European Oil Roylty Trust||NRT||10/30/20||$0.08||$0.02||Source|
|Energy Transfer LP||ET||10/26/20||$0.31||$0.15||Source|
|Canadian Banc Corp||CNDCF||10/21/20||$0.06||$0.06||Source|
|Berkshire Hills Bancorp||BHLB||09/08/20||$0.24||$0.12||Source|
|Royce Value Trust||RVT||09/01/20||$0.26||$0.25||Source|
|Empire State Realty Trust||ESRT||08/27/20||$0.11||$-||Source|
|Marine Petroleum Trust||MARPS||08/21/20||$0.10||$0.04||Source|
|Cominar Real Estate Investment Trust||CMLEF||08/18/20||$0.06||$0.03||Source|
|Aegeon N.V.||AEG||08/13/20||€ 0.15||€ 0.06||Source|
|BlackRock TCP Capital||TCPC||08/06/20||$0.36||$0.30||Source|
|Chesapeake Granite Wash Trust||CHKR||08/05/20||$0.03||$0.01||Source|
|Capital Product Partners||CPLP||07/31/20||$0.35||$0.10||Source|
|Capital One Financial||COF||07/31/20||$0.40||$0.10||Source|
|Vornado Realty Trust||VNO||07/30/20||$0.66||$0.53||Source|
|Maxim Integrated Products||MXIM||07/28/20||$0.48||$-||Source|
|Martin Midstream Partners LP||MMLP||07/28/20||$0.06||$0.01||Source|
|Boston Private Financial||BPFH||07/28/20||$0.12||$0.06||Source|
|Kimbell Royalty Partners||KRP||07/24/20||$0.17||$0.13||Source|
|Suburban Propane Partners||SPH||07/23/20||$0.60||$0.30||Source|
|San Juan Basin Royalty Trust||SJT||07/21/20||$0.08||$-||Source|
|Codorus Valley Bancorp||CVLY||07/15/20||$0.16||$0.10||Source|
|Wells Fargo & Company||WFC||07/14/20||$0.51||$0.10||Source|
|Daimler AG||DDAIF||07/08/20||€ 3.25||€ 0.90||Source|
|RiverNorth Specialty Finance||RSF||07/07/20||$0.18||$0.15||Source|
|MV Oil Trust||MVO||07/06/20||$0.19||$-||Source|
|Stellus Capital Investment||SCM||07/01/20||$0.34||$0.25||Source|
|Simon Property Group||SPG||06/29/20||$2.10||$1.30||Source|
|Permian Basin Royalty Trust||PBT||06/19/20||$0.02||$0.00||Source|
|Mesa Royalty Trust||MTR||06/19/20||$0.02||$-||Source|
|Armanino Foods of Distinction||AMNF||06/19/20||$0.03||$0.02||Source|
|Kite Realty Group Trust||KRG||06/18/20||$0.32||$0.05||Source|
|Cherry Hill Mortgage Investment||CHMI||06/18/20||$0.40||$0.27||Source|
|TPG RE Finance Trust||TRTX||06/17/20||$0.43||$0.20||Source|
|Apollo Commerical Real Estate||ARI||06/16/20||$0.40||$0.35||Source|
|Permianville Royalty Trust||PVL||06/15/20||$0.02||$0.00||Source|
|Independence Realty Trust||IRT||06/15/20||$0.18||$0.12||Source|
|Plymouth Industrial REIT||PLYM||06/12/20||$0.38||$0.20||Source|
|Annaly Capital Management||NLY||06/10/20||$0.25||$0.22||Source|
|Urstadt Biddle Properties||UBA||06/08/20||$0.28||$0.06||Source|
|Pennant Park Investment||PNNT||06/02/20||$0.18||$0.12||Source|
|Oxford Square Capital||OXSQ||06/02/20||$0.07||$0.04||Source|
|Lamar Advertising Agency||LAMR||05/28/20||$1.00||$0.50||Source|
|Big 5 Sporting Goods||BGFV||05/27/20||$0.10||$-||Source|
|Magic Software Enterprises||MGIC||05/26/20||$0.16||$0.08||Source|
|Molson Coors Beverage||TAP||05/22/20||$0.57||$-||Source|
|America First Multifamily Investors||ATAX||05/22/20||$0.13||$0.06||Source|
|Abercrombie & Fitch||ANF||05/22/20||$0.20||$-||Source|
|Old Dominion Freight Line||ODFL||05/21/20||$0.15||$0.15||Source|
|National Oilwell Varco||NOV||05/20/20||$0.05||$-||Source|
|Haverty Furniture Companies||HVT||05/20/20||$0.20||$0.15||Source|
|Elmira Savings Bank||ESBK||05/20/20||$0.23||$0.15||Source|
|Extended Stay America||STAY||05/19/20||$0.23||$0.01||Source|
|Red Rock Resorts||RRR||05/19/20||$0.10||$-||Source|
|ARMOUR Residential REIT||ARR||05/19/20||$0.17||$0.09||Source|
|Imperial Brands PLC||IMBBY||05/18/20||$0.89||$0.59||Source|
|Tekla Healthcare Investors||HQH||05/18/20||$0.47||$0.41||Source|
|Cross Timbers Realty Trust||CRT||05/18/20||$0.09||$0.06||Source|
|Crawford & Company||CRD.A||05/18/20||$0.07||$0.03||Source|
|Crawford & Company||CRD.A||05/18/20||$0.07||$0.03||Source|
|PB Logistics LP||PBLX||05/15/20||$0.52||$0.30||Source|
|PBF Logisitcs LP||PBFX||05/15/20||$0.52||$0.30||Source|
|Melco Resorts & Entertainment||MLCO||05/14/20||$0.17||$-||Source|
|Condor Hospitality Trust||CDOR||05/14/20||$0.20||$-||Source|
|Braemer Hotels & Resorts||BHR||05/14/20||$0.16||$-||Source|
|Penske Automotive Group||PAG||05/13/20||$0.42||$-||Source|
|Jack In The Box||JACK||05/13/20||$0.40||$-||Source|
|Ituran Location and Control||ITRN||05/13/20||$0.24||$-||Source|
|International Game Technology PLC||IGT||05/13/20||$0.20||$-||Source|
|Artisan Partners Asset Management||APAM||05/13/20||$0.68||$0.61||Source|
|Wyndham Hotels & Resorts||WH||05/12/20||$0.32||$0.08||Source|
|Tanger Factory Outlet Centers||SKT||05/11/20||$0.3575||$-||Source|
|Salem Media Group||SALM||05/11/20||$0.03||$-||Source|
|Rocky Mountain Chocolate Factory||RMCF||05/11/20||$0.12||$-||Source|
|Investcorp Credit Management BDC||ICMB||05/11/20||$0.25||$0.15||Source|
|Ethan Allen Interiors||ETH||05/11/20||$0.21||$-||Source|
|Preferred Apartment Communities||APTS||05/11/20||$0.2625||$0.175||Source|
|Solar Senior Capital||SUNS||05/08/20||$0.12||$0.10||Source|
|New Senior Investment Group||SNR||05/08/20||$0.13||$0.07||Source|
|Sunstone Hotel Investors||SHO||05/08/20||$0.05||$-||Source|
|Weingarten Realty Investors||WRI||05/07/20||$0.40||$0.18||Source|
|Salient Midstream & MLP Fund||SMM||05/07/20||$0.24||$0.17||Source|
|Panhandle Oil and Gas||PHX||05/07/20||$0.04||$0.01||Source|
|New Mountain Finance||NMFC||05/07/20||$0.34||$0.30||Source|
|KAR Auction Services||KAR||05/07/20||$0.19||$-||Source|
|Host Hotels & Resorts||HST||05/07/20||$0.20||$-||Source|
|BT Group plc||BTGOF||05/07/20||$0.08||$-||Source|
|BrightSphere Investment Group||BSIG||05/07/20||$0.10||$0.01||Source|
|Brixmor Property Group||BRX||05/07/20||$0.285||$-||Source|
|Western Asset Mortgage Capital||WMC||05/06/20||$0.31||$-||Source|
|Marriott Vacations Worldwide||VAC||05/06/20||$0.54||$-||Source|
|CVR Partners LP||UAN||05/06/20||$0.07||$-||Source|
|Genco Shipping & Trading||GNK||05/06/20||$0.18||$0.02||Source|
|FS KKR Capital||FSK||05/06/20||$0.19||$0.15||Source|
|Cresecent Point Energy||CPG||05/06/20||$0.01||$0.00||Source|
|BlackRock Capital Investment||BKCC||05/06/20||$0.14||$0.10||Source|
|Sabine Royalty Trust||SBR||05/05/20||$0.26||$0.15||Source|
|Retail Properties of America||RPAI||05/05/20||$0.17||$-||Source|
|The Walt Disney Company||DIS||05/05/20||$0.88||$-||Source|
|The Cheesecake Factory||CAKE||05/05/20||$0.36||$-||Source|
|Oxford Lane Capital||OXLC||05/04/20||$0.14||$0.07||Source|
|Summit Midstream Partners||SMLP||05/03/20||$0.13||$-||Source|
|Piper Sandler Companies||PIPR||05/01/20||$0.38||$0.20||Source|
|NUStar Energy L.P.||NS||05/01/20||$0.60||$0.40||Source|
|National Research Corp.||NRC||05/01/20||$0.21||$-||Source|
|Apollo Global Management||APO||05/01/20||$0.89||$0.42||Source|
|Universal Logistics Holdings||ULH||04/30/20||$0.11||$-||Source|
|Royal Dutch Shell||RDS.A||04/30/20||$0.94||$0.32||Source|
|MGM Resorts International||MGM||04/30/20||$0.15||$0.00||Source|
|The Marcus Corporation||MCS||04/30/20||$0.17||$-||Source|
|Great Western Bancorp||GWB||04/30/20||$0.30||$0.15||Source|
|Gaming and Leisure Properties||GLPI||04/30/20||$0.70||$0.60||Source|
|Alexander & Baldwin||ALEX||04/30/20||$0.19||$-||Source|
|Altra Industrial Motion||AIMC||04/30/20||$0.17||$0.04||Source|
|Armada Hoffler Properties||AHH||04/30/20||$0.22||$-||Source|
|American Airlines Group||AAL||04/30/20||$0.10||$-||Source|
|Standard Motor Products||SMP||04/29/20||$0.25||$-||Source|
|Fresh Del Monte Produce||FDP||04/29/20||$0.10||$0.05||Source|
|Airbus SE ADR||EADSY||04/29/20||$0.47||$-||Source|
|Dine Brands Global||DIN||04/29/20||$0.76||$-||Source|
|Capital Properties Real Estate||CPTP||04/29/20||$0.07||$-||Source|
|Yum China Holdings||YUMC||04/28/20||$0.12||$-||Source|
|CorEnergy Infrastructure Trust||CORR||04/28/20||$0.75||$0.05||Source|
|American Assets Trust||AAT||04/28/20||$0.30||$0.20||Source|
|Universal Health Services||UHS||04/27/20||$0.20||$-||Source|
|NGL Energy Partners||NGL||04/27/20||$0.40||$0.20||Source|
|Equity Midstream Partners||EQM||04/27/20||$1.16||$0.39||Source|
|CNX Midstream Partners||CNXM||04/27/20||$0.41||$0.08||Source|
|Affiliated Managers Group||AMG||04/27/20||$0.32||$0.01||Source|
|SandRidge Mississippina Trust I||SDT||04/25/20||$0.04||$0.04||Source|
|Holly Energy Partners||HEP||04/24/20||$0.67||$0.35||Source|
|Community West Bancshares||CWBC||04/24/20||$0.06||$0.05||Source|
|CONSOL Coal Resources LP||CCR||04/24/20||$0.51||$-||Source|
|SandRidge Permian Trust||PER||04/23/20||$0.08||$-||Source|
|Northern Technologies International||NTIC||04/23/20||$0.07||$-||Source|
|Alliance Data Systems||ADS||04/23/20||$0.63||$0.21||Source|
|Retail Opportunity Investments||ROIC||04/22/20||$0.20||$-||Source|
|Manning & Napier||MN||04/22/20||$0.02||$-||Source|
|Choice Hotel's International||CHH||04/22/20||$0.23||$-||Source|
|Black Stone Minerals||BSM||04/22/20||$0.30||$0.08||Source|
|Landmark Infrastructure Partners||LMRK||04/21/20||$0.37||$0.20||Source|
|Anworth Mortgage Asset||ANH||04/21/20||$0.09||$0.05||Source|
|Western Midstream Partners||WES||04/20/20||$0.62||$0.31||Source|
|HDFC Bank Limited||HDFC||04/18/20||$0.32||$-||Source|
|VOC Energy Trust||VOC||04/17/20||$0.11||$0.03||Source|
|Las Vegas Sands||LVS||04/17/20||$0.79||$-||Source|
|Chesapeake Energy (Preferred)||CHK||04/17/20||$1.13||$-||Source|
|InfraCap MLP ETF||AMZA||04/17/20||$0.30||$0.25||Source|
|MTS Systems Corporation||MTSC||04/16/20||$0.30||$-||Source|
|LVMH Moet Hennessy Louis Vuitton||LVMHF||04/16/20||$6.90||$5.20||Source|
|Goodyear Tire & Rubber||GT||04/16/20||$0.16||$-||Source|
|Green Plains Partners||GPP||04/16/20||$0.48||$0.12||Source|
|Eagle Point Credit Company||ECC||04/15/20||$0.20||$0.08||Source|
|Dick's Sporting Goods||DKS||04/14/20||$0.31||$-||Source|
|Publicis Group S.A.||PUBGY||04/13/20||$0.59||$0.30||Source|
|Harvest Capital Credit Corporation||HCAP||04/13/20||$0.08||$-||Source|
|Golub Capital BDC||GBDC||04/13/20||$0.33||$0.29||Source|
|Broadmark Realty Capital||BRMK||04/13/20||$0.08||$0.06||Source|
|Royal Caribbean Group||RCL||04/10/20||$0.78||$-||Source|
|SM Energy Company||SM||04/09/20||$0.05||$0.01||Source|
|Renault SA||RNSDF||04/09/20||€ 1.10||€ -||Source|
|Six Flags Entertainment||SIX||04/08/20||$0.25||$-||Source|
|Orchid Island Capital||ORC||04/08/20||$0.08||$0.06||Source|
|William H. Sadlier||SADL||04/7/20||$1.15||$-||Source|
|Plains All American Pipeline||PAGP||04/07/20||$0.36||$0.18||Source|
|Plains All American Pipeline||PAA||04/07/20||$0.36||$0.18||Source|
|Group 1 Automotive||GPI||04/07/20||$0.30||$-||Source|
|R.R. Donnelly & Sons||RRD||04/06/20||$0.03||$-||Source|
|CNH Industrial N.V.||CNHI||04/06/20||$0.20||$-||Source|
|The Cato Corporation||CATO||04/06/20||$0.33||$-||Source|
|Diversified Healthcare Trust||DHC||04/03/20||$0.15||$0.01||Source|
|BP Prudhoe Bay Royalty Trust||BPT||04/03/20||$0.42||$-||Source|
|Banco Santander S.A.||SAN||04/02/20||$0.11||$-||Source|
|Dave & Buster's Entertainment||PLAY||04/02/20||$0.16||$-||Source|
|Enable Midstream Partners LP||ENBL||04/02/20||$0.33||$0.17||Source|
|Bassett Furniture Industries||BSET||04/02/20||$0.13||$-||Source|
|Bed, Bath & Beyond||BBBY||04/02/20||$0.17||$-||Source|
|American Eagle Outfitters||AEO||04/02/20||$0.14||$-||Source|
|Veolia Environment S.A.||VEOEY||04/01/20||$1.03||$0.54||Source|
|Royal Bank of Scotland||RBS||04/01/20||$0.13||$-||Source|
|Murphy Oil Corporation||MUR||04/01/20||$0.25||$0.13||Source|
|Lloyds Banking Group||LYG||04/01/20||$0.10||$-||Source|
|Helmerich & Payne||HP||04/01/20||$0.71||$0.25||Source|
|Global Net Lease||GNL||04/01/20||$0.53||$0.40||Source|
|Golar LNG Partners LP||GMLP||04/01/20||$0.40||$0.02||Source|
|Global Net Lease||GBL||04/01/20||$0.53||$0.40||Source|
|Capitala Finance Corp||CPTA||04/01/20||$0.08||$0.08||Source|
|Xenia Hotels & Resorts||XHR||03/31/20||$0.28||$-||Source|
|Urban Edge Properties||UE||03/31/20||$0.22||$-||Source|
|Service Properties Trust||SVC||03/30/20||$0.54||$0.01||Source|
|Ruth's Hospitality Group||RUTH||03/30/20||$0.15||$-||Source|
|Inter Pipeline Ltd.||IPPLF||03/30/20||$0.14||$0.04||Source|
|ING Groep N.V.||ING||03/30/20||$0.49||$-||Source|
|Alliance Resource Partners||ARLP||03/30/20||$0.40||$-||Source|
|American Finance Trust||AFIN||03/30/20||$1.10||$0.85||Source|
|The TJX Companies||TJX||03/27/20||$0.92||$-||Source|
|AG Mortgage Investment Trust||MITT||03/27/20||$0.45||$-||Source|
|Apollo Commercial Real Estate||ARI||03/27/20||$0.46||$0.40||Source|
|Hilton Worldwide Holdings||HLT||03/26/20||$0.15||$-||Source|
|Granite Point Mortgage Trust||GPMT||03/26/20||$0.42||$-||Source|
|Arlington Asset Investment||AI||03/26/20||$0.23||$-||Source|
|Two Harbors Investment||TWO||03/25/20||$0.40||$-||Source|
|Sabra Health Care REIT||SBRA||03/25/20||$0.45||$0.30||Source|
|PennyMac Mortgage Investment Trust||PMT||03/25/20||$0.47||$0.25||Source|
|Noble Midstream Partners LP||NBLX||03/25/20||$0.69||$0.19||Source|
|Summit Hotel Properties||INN||03/25/20||$0.18||$-||Source|
|City Office REIT||CIO||03/25/20||$0.24||$0.15||Source|
|Cracker Barrel Old Country Store||CBRL||03/25/20||$1.30||$-||Source|
|Alaska Air Group||ALK||03/25/20||$0.38||$-||Source|
|Orion Engineered Carbons S.A.||OEC||03/23/20||$0.20||$-||Source|
|New York Mortgagte Trust||NYMT||03/23/20||$0.80||$-||Source|
|Invesco Mortgage Capital||IVR||03/23/20||$0.50||$0.02||Source|
|Ashford Hospitality Trust||AHT||03/21/20||$0.06||$-||Source|
|Calvin B. Taylor Bancshares||TYCB||03/20/20||$0.31||$0.26||Source|
|PermRock Royalty Trust||PRT||03/20/20||$0.05||$0.01||Source|
|Apple Hospitality REIT||APLE||03/20/20||$1.20||$-||Source|
|Flexible Solutions International||FSI||03/19/20||$0.08||$-||Source|
|Ford Motor Company||F||03/19/20||$0.15||$-||Source|
|RLJ Lodging Trust||RLJ||03/18/20||$0.33||$0.01||Source|
|Ryman Hospitality Properties||RHP||03/17/20||$0.95||$-||Source|
|Chatham Lodging Trust||CLDT||03/17/20||$0.11||$-||Source|
|Park Hotels & Resorts||PK||03/16/20||$0.45||$-||Source|
|Canterbury Park Holding||CPHC||03/16/20||$0.07||$-||Source|
|Core Laboratories N.V.||CLB||03/16/20||$0.25||$0.01||Source|
|MIND C.T.I. Ltd.||MNDO||03/11/20||$0.26||$0.24||Source|
|Pacific Coast Oil Trust||ROYT||03/04/20||$0.00||$-||Source|
|Washington Prime Group||WPG||02/27/20||$0.25||$0.13||Source|
|Seadrill Partners LLC||SDLPF||02/27/20||$0.01||$-||Source|
|JMP Group LLC||JMP||02/19/20||$0.04||$-||Source|
|Spirit AeroSystems Holdings||SPR||02/07/20||$0.12||$0.01||Source|
|Manhattan Bridge Capital||LOAN||02/07/20||$0.12||$0.11||Source|
|Whiting USA Trust II||WHZT||02/6/20||$0.06||$0.01||Source|
|ECA Marcellus Trust I||ECMT||02/6/20||$0.02||$0.02||Source|
Here are my recommendations:
If you are unsure how to invest in dividend stocks or are just getting started with dividend investing. Please take a look at my Review of the Simply Investing Report. I also provide a Review of the Simply Investing Course. Note that I an affiliate of Simply Investing.
If you are interested in an excellent resource for DIY dividend growth investors. I suggest reading my Review of The Sure Dividend Newsletter. Note that I am an affiliate of Sure Dividend.
If you want to simplify your portfolio management and stop using spreadsheets, look at my article on Passiv – A Modern Portfolio Management Website Review. Note that I an affiliate of Passiv.
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