The post Dividend Cuts and Suspensions List appeared first on Dividend Power.
In this article, we discuss dividend cuts and suspensions starting during the COVID-19 pandemic and oil price wars. The list is now updated monthly.
Currently, 866 total companies have cut the dividend since the end of January 2020 to the latest update. This number is now well over approximately 10% of all companies that pay dividends on the NYSE and NASDAQ.
Please see the list of dividend cuts and suspensions below. The searchable and sortable list is in table format. This dividend cut tracker is updated monthly .
Monthly dividend announcements and statistics are found on the Recent Dividend Increases tracker. We also track special dividend announcements.
2020 – 2025 Dividend Cuts and Suspensions List
Dividend Cuts and Suspensions – Updated 07/31/26
CompanyTickerDateInitial DividendCurrent Dividend
ConagraCAG07/15/26$0.35$0.18
Flowers FoodsFLO05/27/26$0.25$0.13
National BanksharesNKSH05/15/26$0.78$0.75
B&G FoodsBGS05/14/26$0.19$0.10
Arbor RealtyABR05/08/26$0.30$0.17
WhirlpoolWHR05/06/26$0.00
EmbectaEMBC05/06/26$0.15$0.01
Oaktree Specialty LendgingOCSL05/06/26$0.40$0.34
Sixth Street Speciality LendingTSLX05/05/26$0.46$0.42
SLR InvestmentSLRC05/05/26$0.41$0.31
Future FuelFF04/02/26$1.37$0.36
Horizon Tech FinanceHRZN03/05/26$0.11 $0.06
Vitesse EnergyVTS02/26/26$0.56 $0.44
RayonierRYN02/24/26$0.27 $0.26
LyondellBasellLYB02/20/26$1.37 $0.69
Manhattan BridgeLOAN02/11/26$0.12 $0.11
Natural Health TrendsNHTC02/04/26$0.20 $0.10
BCB BancorpBCBP02/03/26$0.16 $0.08
Cion InvestmentsCION01/08/26$0.12 $0.10
Greystone HousingGHI12/16/25$0.30 $0.25
Ready CapitalRC12/15/25$0.125 $0.01
Monroe CapitalMRCC12/15/25$0.25 $0.18
Hooker FurnishingsHOFT12/11/25$0.23 $0.115
Alexandria Real EstateARE12/03/25$1.32 $0.72
Baxter InternationalBAX11/12/25$0.17 $0.01
WhiteHourse FinanceWHF11/11/25$0.39 $0.25
Cogent CommunicationsCCOI11/07/25$1.02 $0.02
HuntsmanHUN11/07/25$0.25 $0.09
Kimball Royalty PartnersKRP11/07/25$0.38 $0.35
Mach Natural ResourcesMNR11/07/25$0.38 $0.27
Runway Growth FinanceRWAY11/07/25$0.36 $0.33
Dine Brands GlobalDIN11/06/25$0.51 $0.19
SmartStop Self REITSMA11/05/25$0.14 $0.13
TPGTPG11/05/25$0.59 $0.45
TXO PartnersTXO11/05/25$0.45 $0.35
FMCFMC10/29/25$0.58 $0.08
Eagle BancorpEGBN10/23/25$0.17 $0.01
Methode ElectronicsMEI10/20/25$0.07 $0.05
Gladstone CapitalGLAD10/14/25$0.17 $0.15
Brandywine RealtyBDN09/26/25$0.15 $0.08
BXPBXP09/10/25$0.98 $0.70
Guess?GES08/28/25$0.30 $0.23
SFL CorporationSFL08/19/25$0.27 $0.20
WhirlpoolWHR08/19/25$1.75 $0.90
Peakstone Realty TrustPKST08/08/25$0.23 $0.10
Taitron ComponentsTAIT08/04/25$0.05 $0.04
Healthcare Realty TrustHR08/01/25$0.31 $0.24
Easterly Government PropertiesDEA07/31/25$0.66 $0.45
Tronox HoldingsTROX07/31/25$0.13 $0.05
DowDOW07/26/25$0.70 $0.35
First BancorpFBNC07/22/25$0.23 $0.18
Seven Hills Realty TrustSEVN07/11/25$0.35 $0.28
Method ElectronicsMEI07/10/25$0.14 $0.07
Advanced Flower CapitalAFCG06/16/25$0.23 $0.15
Global Medical REITGMRE05/28/25$0.21 $0.15
Compass DiversifiedCODI05/27/25$0.25 $0.0
Xerox HoldingsXRX05/22/25$0.125 $0.025
Crown CastleCCI05/21/25$1.565 $1.0625
Carter’sCRI05/20/25$0.80 $0.25
National BanksharesNKSH05/16/25$0.78 $0.73
Jack in the BoxJACK05/14/25$0.44 $0.00
CryoCell InternationalCCEL05/09/25$0.25 $0.15
Krispy KremeDNUT05/08/25$0.04 $0.00
ChemoursCC05/07/25$0.25 $0.0875
ManPower GroupMAN05/05/25$1.54 $0.72
Arbor Realty TrustABR05/02/25$0.43 $0.30
Wendy’sWEN05/02/25$0.25 $0.14
Resources ConnnectionRGP05/02/25$0.14 $0.07
OrganonOGN05/01/25$0.28 $0.02
Piedmont Office Realty TrustPDM04/28/25$0.13 $0.00
Easterly Government PropertiesDEA04/09/25$0.27 $0.18
Invesco Mortgage CapitalIVR03/25/25$0.40 $0.34
Runway GrowthRWAY03/20/25$0.40 $0.33
Portman Ridge FinancePTMN03/14/25$0.69 $0.47
Crown CastleCCI03/13/25$1.565 $1.0625
Advanced Flower CapitalAFCG03/13/25$0.33 $0.23
Armada Hoeffler PropertiesAHH03/13/25$0.205 $0.14
Kohl’sKSS03/12/25$0.50 $0.125
Sunrise Realty TrustSUNS03/07/25$0.42 $0.30
Orion Office REITONL03/06/25$0.10 $0.02
Ready CapitalRC03/04/25$0.25 $0.125
Wendy’sWEN02/13/25$0.25 $0.140
Ares Commercial Real EstateACRE02/12/25$0.25 $0.150
Oaktree Specialty LeandingOCSL02/04/25$0.55 $0.40
Bloomin’ BrandsBLMN02/26/25$0.24 $0.15
RayonierRYN02/05/25$0.2850 $0.2725
Walgreens Boots AllianceWBA01/30/25$0.25 $0.00
NextEra Energy PartnersXPLR01/28/25$0.92 $0.00
Xerox HoldingsXRX12/23/24$1.00 $0.50
Sachem CapitalSACH11/07/24$0.08 $0.05
Chicago Rivet & MachineCVR11/19/24$0.10 $0.03
Mach Natural ResourcesMNR11/14/24$0.90 $0.60
Baxter InternationalBAX11/13/24$0.29 $0.17
Prospect CapitalPSEC11/12/24$0.06 $0.05
Icahn EnterprisesIEP11/11/24$1.00 $0.50
CelaneseCE11/04/24$0.70 $0.04
Estee Lauder Cl AEL11/01/24$0.66 $0.35
Service Properties TrustSVC10/16/24$0.20 $0.01
Eagle BancorpEGBN09/30/24$0.45 $0.17
Creative Media & Community Trust CorporationCMCT09/19/24$0.09 $0.04
Ready CapitalRC09/17/24$0.30 $0.25
Summit State BankSSBI09/13/24$0.12 $0.04
Apollo Commercial Real Estate FinanceARI09/11/24$0.35 $0.25
Hudson Pacific PropertiesHPP09/10/24$0.05 $0.00
Medical Properties TrustMPW08/23/24$0.15 $0.08
B. Riley FinancialRILY08/12/24$0.50 $0.00
TriplePoint Ventures GrowthTPVG08/08/24$0.40 $0.30
Genco Shipping & TradingGNK08/08/24$0.42 $0.34
TXO PartnersTXO08/07/24$0.65 $0.57
NY Community BancorpNYCB08/07/24$0.03 $0.01
Claros Mortgage TrustCMTG08/06/24$0.25 $0.10
Kimball Royalty PartnersKRP08/02/24$0.49 $0.42
BrightSpire CapitalBRSP08/01/24$0.20 $0.16
IntelINTC08/01/24$0.00
CVR PartnersUAN07/31/24$1.92 $1.90
Blackstone Mortgage TrustBXMT07/24/24$0.62 $0.47
Sachem CapitalSACH07/19/24$0.11 $0.08
Kronos WorldwideKRO07/17/24$0.19 $0.05
Telephone and Data SystemsTDS05/28/24$0.19 $0.04
Granite Point Mortgage TrustGPMT06/18/24$0.15 $0.05
Cracker Barrel Old Country StoreCBRL05/16/24$1.30 $0.25
3M CompanyMMM05/14/24$1.51 $0.70
Compass Minerals InternationalCMP05/07/24$0.15 $0.00
Leggett & PlattLEG05/01/24$0.46 $0.05
NY Community BancorpNYCB05/02/24$0.05 $0.01
Great AjaxAJX05/06/24$0.10 $0.06
Sturm RugerRGR05/09/24$0.23 $0.16
TPGTPG05/09/24$0.44 $0.41
Kennedy-Wilson HoldingsKW05/10/24$0.24 $0.12
Territorial BancorpTBNK05/15/24$0.05 $0.01
National BancsharesNKSH05/17/24$0.78 $0.73
Global Net LeaseGNL04/01/24$0.35 $0.28
Granite Point Mortgage Trust GPMT03/14/24$0.20 $0.15
Black Stone Minerals, LPBSM04/17/24$0.48 $0.38
B. Riley FinancialRILY02/29/24$1.00 $0.50
Tri-ContinentalTY03/01/24$0.277 $0.256
ATN InternationalATN03/18/24$0.24 $0.21
American Tower CorporationAMT03/15/24$1.70 $1.62
Ellington FinancialEFC03/11/24$0.15 $0.13
Big 5 Sporting GoodsBGFV02/29/24$0.125 $0.05
Great AjaxAJX02/28/24$0.11 $0.10
Fidelity National Information ServicesFIS02/26/24$0.52 $0.36
Mountain Commerce BancorpMCBI02/22/24$0.16 $0.08
NewmontMEM02/23/24$0.40 $0.25
Bridge Investment Group HoldingsBRDG02/23/24$0.17 $0.07
Ares Commercial Real EstateACRE02/23/24$0.33 $0.25
Kimball Royalty Partners LPKRP02/22/24$0.51 $0.43
International Flavors & FragrancesIFF02/22/24$0.81 $0.40
NuSkin EnterprisesNUS02/15/24$0.39 $0.06
JBG SMITH PropertiesJBGS02/16/24$0.225 $0.175
TPGTPG02/14/24$0.48 $0.44
New York Community BankNYCB01/31/24$0.17 $0.05
Office Properties Income TrustOPI01/12/24$0.25 $0.01
Walgreens Boots AllianceWBA01/05/24$0.48 $0.25
Finward BancorpFNWD12/26/23$0.31 $0.12
Greif Cl BGEF.B12/06/23$0.78 $0.77
DanaherDHR12/05/23$0.27 $0.24
Vornado Realty TrustVNO12/06/23$0.38 $0.30
W.P. CareyWPC12/07/23$1.0485 $0.86
Ready CapitalRC12/15/23$0.36 $0.30
New York Mortgage TrustNYMT12/15/23$0.30 $0.20
First FinancialTHFF11/21/23$0.54 $0.45
Western Asset Mortgage CapitalWMC11/20/23$0.14 $0.10
ARMOUR Residential REITARR12/14/23$0.40 $0.24
MedifastMED12/13/23$1.65 $0.00
SL GreenSLG12/04/23$0.27 $0.25
Great AjaxAJX11/02/23$0.20 $0.11
First FoundationFFWM10/27/23$0.02 $0.01
Territorial BancorpTBNK10/31/23$0.23 $0.05
KellanovaK10/27/23$0.60 $0.56
Chimera InvestmentCIM11/02/23$0.18 $0.11
PetMed ExpressPETS10/30/23$0.30 $0.00
V.F. CorporationVFC10/30/23$0.30 $0.09
Big 5 Sporting GoodsBGFV10/31/23$0.25 $0.125
Sachem CapitalSACH10/23/23$0.13 $0.11
Orchid Island CapitalORC10/11/23$0.16 $0.12
Global Net LeaseGNL10/03/23$0.400 $0.354
Investment Credit Management BDCICMB09/21/23$0.13 $0.12
Claros Mortgage TrustCMTG09/15/23$0.37 $0.25
Waterstone FinancialWSBF09/26/23$0.20 $0.15
TXO Energy Pertners L.P.TXO08/08/23$0.50 $0.48
Brandywine Realty TrustBDN09/20/23$0.19 $0.15
Ready CapitalRE09/15/23$0.40 $0.36
Hawaiian ElectricHE08/24/23$0.36 $0.00
Foot LockerFL08/23/23$0.40 $0.00
Chicago Rivet & MachineCVR08/23/23$0.22 $0.10
Medical Properties TrustMPW08/21/23$0.29 $0.15
Mativ HoldingsMATV08/09/23$0.40 $0.10
Consol EnergyCEIX08/08/23$1.10 $0.00
Icahn Enterprises L.P.IEP08/04/23$2.00 $1.00
Camping World HoldingsCWH08/02/23$0.625 $0.125
BorgWarnerBWA07/27/23$0.17 $0.13
United GuardianUG07/18/23$0.37 $0.10
Piedmont Office Realty TrustPDM07/27/28$0.210 $0.125
Hudson Pacific PropertiesHPP06/09/23$0.250 $0.125
Citizens HoldingCIZN06/02/23$0.24 $0.16
TrinseoTSE06/16/23$0.14 $0.01
Urstadt Biddle PropertiesUBP06/01/23$0.2250 $0.2083
Two Harbors InvestmentTWO06/21/23$0.60 $0.45
Cherry Hill Mortgage InvestmentCHMI06/15/23$0.27 $0.15
AFC GammaAFCG06/15/23$0.56 $0.48
Chimera InvestmentCIM06/14/23$0.23 $0.18
New York Mortgage TrustNYMT06/06/16$0.40 $0.30
Paramount GroupPGRE06/15/23$0.077 $0.035
Redwood TrustRWT06/14/23$0.23 $0.16
Advance Auto PartsAAP05/31/23$1.50 $0.25
EnvivaEVA05/04/23$0.905 $0.00
City Office REITCIO05/05/23$0.20 $0.10
Big LotsBIG05/23/23$0.30 $0.00
Newell BrandsNWL05/16/23$0.23 $0.07
National BancsharesNKSH05/11/23$0.78 $0.73
Crescent EnergyCRGY05/10/23$0.17 $0.15
Paramount GlobalPARA05/09/23$0.24 $0.05
PacWest BancorpPACW05/08/23$0.25 $0.01
Bridge InvestmentBRDG05/08/23$0.17 $0.15
Great AjaxAJX05/05/23$0.25 $0.20
First FoundationFFWM04/27/23$0.11 $0.02
Vornado Realty TrustVNO04/26/23$0.375 $0.00
Via RenewablesVIA04/19/23$0.91 $0.00
Office Properties Income TrustOPI04/13/23$0.55 $0.25
First Republic BankFRC03/16/23$0.27 $0.00
Great Elm CapitalGECC03/13/23$0.45 $0.35
Bridge Investment GroupBRDG03/08/23$0.27 $0.17
AMEN PropertiesAMEN03/10/23$12.50 $10.00
BK TechnologiesBKTI03/16/23$0.03 $0.00
Western Asset Mortgage CapitalWMC03/22/23$0.40 $0.35
HomeStreetHMST04/24/23$0.35 $0.10
Kimball Royalty PartnersKRP02/23/23$0.49 $0.48
Great AjaxAJX03/03/23$0.27 $0.25
Eagle Bulk ShippingEGLE03/02/23$1.80 $0.60
NewmontNEM02/23/23$0.55 $0.40
Newtek OneNEWT02/28/23$0.700 $0.018
Calavo GrowersCVGW03/14/23$0.29 $0.10
Manhattan Bridge CapitalLOAN03/13/23$0.1250 $0.1125
Invesco Mortgage CapitalIVR03/27/23$0.650 $0.400
Bebe StoresBEBE02/09/23$0.15 $0.02
ECA Marcellus TrustECTM02/10/23$0.136 $0.124
Marine Petroleum TrustMARPS02/17/23$0.2443 $0.1593
Coterra EnergyCTRA02/22/23$0.68 $0.57
IntelINTC02/22/23$0.365 $0.125
ARMOUR Residential REITARR02/15/23$0.10 $0.08
Healthcare Services GroupHCSG02/15/23$0.22 $0.00
MGM ResortsMGM02/08/23$0.01 $0.00
V.F. CorpVFC02/07/23$0.51 $0.30
HanesbrandHBI02/02/23$0.15 $0.00
Algonquin Power & UtilitiesAQN01/12/23$0.1808 $0.1085
Gladstone CommercialGOOD01/10/23$0.13 $0.10
KNOP Offshore Partners LPKNOP01/12/23$0.52 $0.03
BP Prudhoe Bay Royalty TrustBPT01/06/23$0.7031 $0.2974
Vornado Realty TrustVNO01/18/23$0.530 $0.375
Meritage Hospitality GroupMHGU12/15/22$0.12 $0.06
AG Mortgage Investment TrustMITT12/20/22$0.21 $0.18
Ready CapitalRC12/15/22$0.42 $0.40
AlicoALCO12/14/22$0.50 $0.05
Investcorp Credit ManagementICMB11/15/22$0.15 $0.13
Broadmark Realty CapitalBRMK11/16/22$0.070 $0.035
KingstoneKINS11/15/22$0.04 $0.00
Bridge Investment GroupBRDG11/30/22$0.30 $0.27
Angel Oak MortgageAOMR11/18/22$0.45 $0.32
Byline BancorpBY11/04/22$0.0900 $0.0349
Granite Point Mortgage TrustGPMT12/20/22$0.25 $0.20
Ready CapitalRC12/15/22$0.42 $0.40
MFA FinancialMFA12/14/22$0.44 $0.35
Douglas EmmettDEI12/08/22$0.28 $0.19
PennyMac Mortgage Investment TrustPMT12/07/22$0.47 $0.40
SL Green RealtySLG12/05/22$0.3108 $0.2708
VOC Energy TrustVOC10/20/22$0.380 $0.365
MV Oil TrustMVO10/05/22$0.700 $0.685
Sachem CapitalSACH10/27/22$0.14 $0.13
Fortress TransportationFTAI10/27/22$0.330 $0.30
Devon EnergyDVN11/01/22$1.55 $1.35
BP Prudhoe Bay Royalty TrustBPT10/13/22$1.4050 $0.7031
Medalist Diversified REITMDRR10/04/22$0.02 $0.01
Generation Income PropertiesGIPR10/04/22$0.054 $0.039
United-GuardianUG11/21/22$0.37 $0.31
Tekla Healthcare InvestorsHQH11/16/22$0.40 $0.39
B&G FoodsBGS11/09/22$0.475 $0.19
Lumen TechnologiesLUMN11/02/22$0.25 $0.00
Southern CopperSCCO11/07/22$0.75 $0.50
Presidio Property TrustSQFT09/02/22$0.106 $0.02
The Marketing AllianceMAAL09/12/22$0.07 $0.05
Chimera InvestmentCIM09/21/22$0.33 $0.23
Invesco Mortgage CapitalIVR09/28/22$0.91 $0.65
SteelcaseSCS09/21/22$0.145 $0.10
TPGTPG08/17/22$0.44 $0.39
Sturm, Ruger & CompanyRGR08/03/22$0.68 $0.47
Mativ HoldingsMATV08/09/22$0.44 $0.40
Newtek BusinessNEWT08/30/22$0.75 $0.65
Southern CopperSCCO08/09/22$1.25 $0.75
WeberWEBR07/25/22$0.04 $0.00
Encompass HealthEHC07/20/22$0.28 $0.15
Healthcare Realty TrustHR07/01/22$0.310 $0.201
Rio TintoRIO07/27/22$5.61 $2.31
Industrial Logistics PropertiesILPT07/14/22$0.33 $0.01
Franklin Street PropertiesFSP07/05/22$0.09 $0.01
Sculptor Capital ManagementSCU05/16/22$0.28 $0.11
Sissecam Resources LPSIRE05/06/22$0.65 $0.50
National CineMediaNCMI05/09/22$0.05 $0.03
CVR Partners, LPUAN05/11/22$5.24 $2.26
Oasis PetroleumOAS05/04/22$3.00 $2.94
Eagle Bulk ShippingEGLE05/12/22$2.05 $2.00
United GuardianUG05/19/22$0.65 $0.37
Golden OceanGOGL05/24/22$0.90 $0.50
Ellington Residential Mortgage REITEARN05/02/22$0.10 $0.08
Gouverneur BancorpGOVB03/09/22$0.12 $0.10
Bridge Investment GroupBRDG03/09/22$0.24 $0.21
Western Asset ManagementWMC03/23/22$0.06 $0.04
James River Group HoldingsJRVR03/02/22$0.30 $0.05
360 DigiTechQFIN03/12/22$0.28 $0.26
Orchid Island CapitalORC03/16/22$0.0550 $0.0450
Lument Finance TrustLFT03/15/22$0.0900 $0.0600
ExelonEXC02/08/22$0.3825 $0.3375
PPL CorporationPPL02/18/22$0.42 $0.20
Compass DiversifiedCODI01/04/22$0.36 $0.25
Hoegh LNG Partners LPHMLP07/27/21$0.44 $0.01
Sturm, Ruger & Company RGR11/03/21$1.00 $0.79
Compass MineralsCMP11/15/21$0.72 $0.15
International PaperIP10/12/21$0.51 $0.46
CatchMark TimberCTT10/18/21$0.135 $0.075
Permian Basin Royalty TrustPBT10/19/21$0.0231 $0.0224
Permianville Royalty TrustPVL09/17/21$0.031 $0.021
San Juan Basin Royalty TrustSJT09/21/21$0.0847 $0.0369
PermRock Royalty TrustPRT09/21/21$0.06 $0.05
Sprague Resources LPSRLP10/25/21$0.6675 $0.4338
Capstead MortgageCMO09/17/21 $0.15 $0.0725
Washington Real EstateWRE07/29/21 $0.30 $0.17
International General InsuranceIGIC08/12/21 $0.17 $0.16
EnetiNETI08/17/21 $0.05 $0.01
Shell Midstream Partners L.P.SHLX07/22/21 $0.30 $0.46
DTE EnergyDTE06/24/21 $1.09 $0.825
National Health InvestorsNHI06/03/21 $1.10 $0.90
GapGPS05/11/21 $0.2425 $0.12
AT&TT05/17/21 $0.52 $0.28
HollyFrontierHFC05/05/21 $0.35 $-
Acadia Realty TrustAKR03/05/20 $0.29 $-
Genie EnergyGNE03/11/21 $0.09 $-
Tri-CointinentalTY03/05/21 $0.2679 $0.2455
Healthpeak PropertiesPEAK02/09/21 $0.37 $0.30
JD BancsharesJDVB01/21/21 $0.59 $0.45
Pzena Investment ManagementPZN02/02/21 $0.30 $0.25
Danone S.A. ADRDANOY02/19/21 € 2.10 € 1.94
DHT HoldingsDHT02/08/21 $0.20 $0.05
Antero MidstreamAM02/17/21 $0.3075 $0.225
Corby Spirit and WineCBYDF02/11/21 $0.22 $0.21
RioCan Real Estate Investment TrustRIOCF01/15/21 $0.12 $0.08
GreifGEF.B12/08/20 $0.66 $0.65
Tremont MortgageTRMT03/31/20 $0.22 $0.01
Steve MaddenSHOO03/30/20 $0.15 $-
RiverNorth Opportunities FundRIV01/05/21 $0.18 $0.17
AMEN PropertiesAMEN03/12/20 $20.00 $10.00
Vector GroupVGR03/05/20 $0.40 $0.20
Pacific Coast Oil TrustROYT03/04/20 $0.0039 $-
Jernigan CapitalJCAP02/21/20 $0.35 $0.23
Apollo Commercial Real EstateARI03/27/20 $0.46 $0.40
Trinseo S.A.TSE12/16/20 $0.40 $0.08
Paramount GroupPGRE12/15/20 $0.10 $0.07
North European Oil Roylty TrustNRT10/30/20 $0.08 $0.02
Whiting USA Trust IIWHZT02/06/20 $0.06307 $0.014555
ECA Marcellus Trust IECMT02/06/20 $0.021 $0.019
PermRock Royalty TrustPRT03/20/20 $0.051115 $0.014951
Rattler Midstream LPRTLR11/05/20 $0.29 $0.20
TCG BDCCGBD08/04/20 $0.37 $0.32
Nordic American TankersNAT11/17/20 $0.20 $0.04
Retail ValueRVI11/13/20 $2.05 $1.16
Fidus InvestmentFDUS04/30/20 $0.39 $0.30
Cadence BancorporationCADE04/29/20 $0.175 $0.05
Capital Properties Real EstateCPTP04/29/20 $0.07 $-
Equitrans MidstreamETRN04/27/20 $0.45 $0.15
Affiliated Managers GroupAMG04/27/20 $0.32 $0.01
Community West BancsharesCWBC04/24/20 $0.055 $0.045
SandRidge Mississippina Trust ISDT04/25/20 $0.0439 $0.0367
Lifetime BrandsLCUT04/23/20 $0.0425 $-
First SourceSRCE04/23/20 $0.29 $0.28
Crazy Woman Creek BancorpCRZY12/02/20 $0.33 $0.30
VOC Energy TrustVOC04/17/20 $0.11 $0.03
Eagle Point Credit CompanyECC04/15/20 $0.20 $0.08
Ellington FinancialEFC04/08/20 $0.15 $0.08
William H. SadlierSADL04/07/20 $1.15 $-
Elmer BancorpELMA10/01/20 $0.30 $0.16
Old Dominion Freight LineODFL05/21/20 $0.1533 $0.15
Haverty Furniture CompaniesHVT05/20/20 $0.20 $0.15
InterfaceTILE05/19/20 $0.07 $0.01
Extended Stay AmericaSTAY05/19/20 $0.23 $0.01
Crawford & CompanyCRD.A05/18/20 $0.07 $0.03
Tekla Healthcare InvestorsHQH05/18/20 $0.47 $0.41
Red Rock ResortsRRR05/19/20 $0.10 $-
PBF Logisitcs LPPBFX05/15/20 $0.52 $0.30
United GuardianUG11/20/20 $0.42 $0.36
United Fire GroupUFCS11/20/20 $0.33 $0.15
National BanksharesNKSH05/20/20 $0.72 $0.67
bebe storesBEBE05/13/20 $0.17 $0.06
Artisan Partners Asset ManagementAPAM05/13/20 $0.68 $0.61
Genco Shipping & TradingGNK05/06/20 $0.175 $0.02
Solar Senior CapitalSUNS05/08/20 $0.12 $0.10
Falcon MineralsFLMN05/07/20 $0.135 $0.025
EntravisionEVC05/07/20 $0.05 $0.025
Salient Midstream & MLP FundSMM05/07/20 $0.244 $0.171
Newtek BusinessNEWT11/11/20 $0.58 $0.47
Israel ChemicalsICL11/13/20 $0.28 $0.23
Computer Programs and SystemsCPSI11/05/20 $0.10 $-
Delek US HoldingsDK11/04/20 $0.31 $-
Evolution PetroleumEPM05/06/20 $0.10 $0.025
BlackRock Capital InvestmentBKCC05/06/20 $0.14 $0.10
FS KKR CapitalFSK05/06/20 $0.19 $0.15
CVR EnergyCVI05/06/20 $0.80 $0.40
CVR Partners LPUAN05/06/20 $0.07 $-
Marriott Vacations WorldwideVAC05/06/20 $0.54 $-
BrightSphere Investment GroupBSIG05/07/20 $0.10 $0.01
Newmark GroupNMRK05/07/20 $0.10 $0.01
Dover MotorsportsDVD10/28/20 $0.10 $0.07
Canadian Banc CorpCNDCF10/21/20 $0.0619 $0.0572
Energy Transfer LPET10/26/20 $0.305 $0.1525
AstroNovaALOT05/12/20 $0.07 $-
United BancsharesUBOH05/27/20 $0.14 $0.07
Oxford Lane CapitalOXLC05/04/20 $0.135 $0.0675
Great AjaxAJX05/05/20 $0.32 $0.17
National CineMediaNCMI05/05/20 $0.19 $0.07
Amplify EnergyAMPY05/06/20 $0.10 $-
Sculptor CapitalSCU05/06/20 $0.53 $-
Arc ResourcesAETUF03/13/20 $0.05 $0.02
Guess’, IncGES03/18/20 $0.1125 $-
MIND C.T.I. Ltd.MNDO03/11/20 $0.26 $0.24
Seadrill Partners LLCSDLPF02/27/20 $0.01 $-
JMP Group LLCJMP02/19/20 $0.04 $-
Spirit AeroSystems HoldingsSPR02/07/20 $0.12 $0.01
Summit Hotel PropertiesINN03/25/20 $0.18 $-
Noble Midstream Partners LPNBLX03/25/20 $0.6878 $0.1875
Orion Engineered Carbons S.A.OEC03/23/20 $0.20 $-
Banco Santander S.A.SAN04/02/20 $0.1113 $-
ING Groep N.V.ING03/30/20 $0.4916 $-
Inter Pipeline Ltd.IPPLF03/30/20 $0.1425 $0.04
AG Mortgage Investment TrustMITT03/27/20 $0.45 $-
Gouverneur BancorpGOVB09/02/20 $0.17 $0.12
Veolia Environment S.A.VEOEY04/01/20 $1.0290 $0.5399
Golar LNG Partners LPGMLP04/01/20 $0.4042 $0.0202
American Eagle OutfittersAEO04/02/20 $0.1375 $-
BP Prudhoe Bay Royalty TrustBPT04/03/20 $0.4242 $-
BlackbaudBLKB04/06/20 $0.12 $-
CNH Industrial N.V.CNHI04/06/20 $0.202 $-
Maxim Integrated ProductsMXIM07/28/20 $0.48 $-
TechnipFMC PLCFTI04/21/20 $0.13 $0.0325
CotyCOTY05/11/20 $0.125 $-
Mack-Cali RealtyCLI09/30/20 $0.20 $-
MoogMOG.A04/24/20 $0.25 $-
HDFC Bank LimitedHDFC04/18/20 $0.323 $-
Orange S.A.ORAN04/17/20 $0.4505 $0.2261
Dick’s Sporting GoodsDKS04/14/20 $0.3125 $-
Harvest Capital Credit CorporationHCAP04/13/20 $0.08 $-
Royal Caribbean GroupRCL04/10/20 $0.78 $-
SM Energy CompanySM04/09/20 $0.05 $0.01
Diversified RoyaltyBEVFF04/06/20 $0.01958 $0.01667
Mesa Royalty TrustMTR06/19/20 $0.0237 $-
Permian Basin Royalty TrustPBT06/19/20 $0.0165 $0.001819
TPG RE Finance TrustTRTX06/17/20 $0.43 $0.20
A.H. BeloAHC06/03/20 $0.08 $0.04
AltabancorpALTA08/06/20 $0.14 $0.13
Great Western BancorpGWB04/30/20 $0.30 $0.15
Mullen GroupMLLGF07/23/20 $0.05 $0.03
Saratoga InvestmentSAR07/08/20 $0.56 $0.40
Empire State Realty TrustESRT08/27/20 $0.105 $-
Apollo InvestmentAINV08/06/20 $0.45 $0.31
THL CreditFCRD05/07/20 $0.21 $0.10
GasLog PartnersGLOP05/07/20 $0.561 $0.125
Kingstone CompaniesKINS05/07/20 $0.0625 $0.04
BG StaffingBGSF05/07/20 $0.30 $0.05
Exantas CapitalXAN05/07/20 $0.275 $-
Investcorp Credit Management BDCICMB05/11/20 $0.2482 $0.15
Summit Midstream PartnersSMLP05/03/20 $0.125 $-
OFS CapitalOFS05/08/20 $0.34 $0.17
Monroe CapitalMRCC05/09/20 $0.35 $0.25
Medley CapitalMCC05/11/20 $1.06 $-
Salem Media GroupSALM05/11/20 $0.025 $-
Rocky Mountain Chocolate FactoryRMCF05/11/20 $0.120 $-
Cantel MedicalCMD05/12/20 $0.105 $-
PsychmedicsPMD05/12/20 $0.18 $-
International Game Technology PLCIGT05/13/20 $0.20 $-
Ituran Location and ControlITRN05/13/20 $0.24 $-
Linamar CorporationLIMAF05/13/20 $0.085 $0.0436
Melco Resorts & EntertainmentMLCO05/14/20 $0.1651 $-
PB Logistics LPPBLX05/15/20 $0.52 $0.30
Berkshire Hills BancorpBHLB09/08/20 $0.24 $0.12
Range ResourcesRRC02/27/20 $0.02 $-
Ark RestaurantsARKR03/13/20 $0.25 $-
QEP ResourcesQEP03/13/20 $0.02 $-
Allegiant TravelALGT05/12/20 $0.70 $-
Triumph GroupTGI03/24/20 $0.04 $-
Ruth’s Hospitality GroupRUTH03/30/20 $0.15 $-
DaktronicsDAKT04/01/20 $0.05 $-
Quad/GraphicsQUAD04/02/20 $0.15 $-
Liberty OilfieldLBRT04/02/20 $0.05 $-
R.R. Donnelly & SonsRRD04/06/20 $0.03 $-
Haldor EnergyHNRG04/15/20 $0.04 $-
Chesapeake Energy (Preferred)CHK04/17/20 $1.125 $-
Inter ParfumsIPAR04/22/20 $0.33 $-
BBX CapitalBBX04/22/20 $0.0625 $-
Northern Technologies InternationalNTIC04/23/20 $0.065 $-
DMC GlobalBOOM04/23/20 $0.125 $-
Arch ResourcesARCH04/23/20 $0.50 $-
Yum China HoldingsYUMC04/28/20 $0.12 $-
O-I GlassOI04/28/20 $0.05 $-
Standard Motor ProductsSMP04/29/20 $0.25 $-
Universal Logistics HoldingsULH04/30/20 $0.105 $-
Royce Value TrustRVT09/01/20 $0.26 $0.25
FrontlineFRO08/27/20 $0.70 $0.50
Raven IndustriesRAVN08/26/20 $0.13 $-
ARMOUR Residential REITARR05/19/20 $0.17 $0.09
Xperi HoldingXPER08/10/20 $0.20 $0.05
Brigham MineralsMNRL08/12/20 $0.37 $0.14
Prudential PLCPUK08/12/20 $0.1228 $0.0537
Marine Petroleum TrustMARPS08/21/20 $0.1038 $0.0445
America First Multifamily InvestorsATAX05/22/20 $0.13 $0.06
Big 5 Sporting GoodsBGFV05/27/20 $0.10 $-
ValhiVHI05/28/20 $0.24 $0.08
Pennant Park InvestmentPNNT06/02/20 $0.18 $0.12
Cherry Hill Mortgage InvestmentCHMI06/18/20 $0.40 $0.27
Renault SARNSDF04/09/20 € 1.10 € –
Daimler AGDDAIF07/08/20 € 3.25 € 0.90
Cominar Real Estate Investment TrustCMLEF08/18/20 $0.06 $0.03
Aegeon N.V.AEG08/13/20 € 0.15 € 0.06
BlackRock TCP CapitalTCPC08/06/20 $0.36 $0.30
Chesapeake Granite Wash TrustCHKR08/05/20 $0.0291 $0.0053
GEO GroupGEO08/06/20 $0.48 $0.34
Garrison CapitalGARS08/10/20 $0.15 $0.05
MV Oil TrustMVO07/06/20 $0.19 $-
MetroCity BanksharesMCBS07/15/20 $0.77 $0.09
Wyndham DestinationsWYND07/20/20 $0.50 $0.30
San Juan Basin Royalty TrustSJT07/21/20 $0.083 $-
AllianceBernsteinAB07/23/20 $0.64 $0.61
Blackstone GroupBX07/23/20 $0.39 $0.37
Suburban Propane PartnersSPH07/23/20 $0.60 $0.30
Dorcester MineralsDMLP07/23/20 $0.4779 $0.226318
Kimbell Royalty PartnersKRP07/24/20 $0.17 $0.13
Capital One FinancialCOF07/31/20 $0.40 $0.10
Hanmi FinancialHAFC07/29/20 $0.24 $0.08
Capital Product PartnersCPLP07/31/20 $0.35 $0.10
Vornado Realty TrustVNO07/30/20 $0.66 $0.53
Viper EnergyVNOM08/03/20 $0.10 $0.03
BP PLCBP08/04/20 $0.63 $0.315
Pacific FinancialPFLC07/28/20 $0.11 $0.08
Boston Private FinancialBPFH07/28/20 $0.12 $0.06
Martin Midstream Partners LPMMLP07/28/20 $0.0625 $0.005
Retail Properties of AmericaRPAI05/05/20 $0.17 $-
Weingarten Realty InvestorsWRI05/07/20 $0.40 $0.18
American Assets TrustAAT04/28/20 $0.30 $0.20
Southerly HotelsSOHO03/17/20 $0.13 $-
Xenia Hotels & ResortsXHR03/31/20 $0.28 $-
Sunstone Hotel InvestorsSHO05/08/20 $0.05 $-
Condor Hospitality TrustCDOR05/14/20 $0.20 $-
Braemer Hotels & ResortsBHR05/14/20 $0.16 $-
New Senior Investment GroupSNR05/08/20 $0.13 $0.065
Codorus Valley BancorpCVLY07/15/20 $0.16 $0.10
Wells Fargo & CompanyWFC07/14/20 $0.51 $0.10
RiverNorth Specialty FinanceRSF07/07/20 $0.18 $0.1453
Levi StraussLEVI07/07/20 $0.08 $-
Dominion EnergyD07/05/20 $0.94 $0.63
Stellus Capital InvestmentSCM07/01/20 $0.34 $0.25
Simon Property GroupSPG06/29/20 $2.10 $1.30
BT Group plcBTGOF05/07/20 $0.077 $-
Armanino Foods of DistinctionAMNF06/19/20 $0.0275 $0.0175
Saga CommunicationsSGA06/18/20 $0.32 $-
Kite Realty Group TrustKRG06/18/20 $0.3175 $0.052
VentasVTR06/19/20 $0.7925 $0.45
CoreCivicCXW06/17/20 $0.44 $-
Apollo Commerical Real EstateARI06/16/20 $0.40 $0.35
Ready CapitalRC06/15/20 $0.40 $0.25
Permianville Royalty TrustPVL06/15/20 $0.0153 $0.0038
Independence Realty TrustIRT06/15/20 $0.18 $0.12
Plymouth Industrial REITPLYM06/12/20 $0.38 $0.20
Crown CraftsCRWS06/10/20 $0.08 $-
Chico’s FASCHS06/10/20 $0.09 $-
Chimera InvestmentsCIM06/10/20 $0.50 $0.30
Dynex CapitalDX06/10/20 $0.15 $0.13
Annaly Capital ManagementNLY06/10/20 $0.25 $0.22
Oxford Square CapitalOXSQ06/02/20 $0.067 $0.035
Panhandle Oil and GasPHX05/07/20 $0.04 $0.01
Taubman CentersTCO06/05/20 $0.675 $-
Urstadt Biddle PropertiesUBA06/08/20 $0.28 $0.0625
BuckleBKE06/02/20 $0.30 $-
Elmira Savings BankESBK05/20/20 $0.23 $0.15
InvacareIVC05/21/20 $0.0125 $-
Abercrombie & FitchANF05/22/20 $0.20 $-
Flexsteel IndustriesFLXS06/01/20 $0.22 $0.05
Occidental PetroleumOXY05/29/30 $0.11 $0.01
Lamar Advertising AgencyLAMR05/28/20 $1.00 $0.50
Ralph LaurenRL05/27/20 $0.6875 $-
Ladder CapitalLADR05/28/20 $0.34 $0.20
DXC TechnologyDXC05/28/20 $0.21 $-
Cresecent Point EnergyCPG05/06/20 $0.01 $0.0025
Elbit SystemsESLT05/26/20 $0.44 $0.35
Magic Software EnterprisesMGIC05/26/20 $0.156 $0.08
National Research Corp.NRC05/01/20 $0.21 $-
Molson Coors BeverageTAP05/22/20 $0.57 $-
Foot LockerFL05/22/20 $0.40 $-
Ross StoresROST05/21/20 $0.285 $-
National Oilwell VarcoNOV05/20/20 $0.05 $-
Crawford & CompanyCRD.A05/18/20 $0.07 $0.03
SFLSFL05/20/20 $0.35 $0.25
VEREITVER05/20/20 $0.1375 $0.077
HalliburtonHAL05/20/20 $0.18 $0.045
Imperial Brands PLCIMBBY05/18/20 $0.8933 $0.5896
Cross Timbers Realty TrustCRT05/18/20 $0.0859 $0.0323
Airbus SE ADREADSY04/29/20 $0.4656 $-
ViadVVI05/14/20 $0.10 $-
Southwest AirlinesLUV04/28/20 $0.18 $-
Strattec SecuritySTRT05/14/20 $0.14 $-
Jack In The BoxJACK05/13/20 $0.40 $-
Penske Automotive GroupPAG05/13/20 $0.42 $-
TESSCO TechnologiesTESS01/27/20 $0.20 $0.02
Wyndham Hotels & ResortsWH05/12/20 $0.32 $0.08
Ethan Allen InteriorsETH05/11/20 $0.21 $-
RPT RealtyRPT05/11/20 $0.22 $-
Preferred Apartment CommunitiesAPTS05/11/20 $0.2625 $0.175
Tanger Factory Outlet CentersSKT05/11/20 $0.3575 $-
Western Asset Mortgage CapitalWMC05/06/20 $0.31 $-
Brixmor Property GroupBRX05/07/20 $0.285 $-
ProAssurance CorpPRA05/07/20 $0.31 $0.05
Universal Health ServicesUHS04/27/20 $0.20 $-
Kimco RealtyKIM05/08/20 $0.28 $-
DomtarUFS05/08/20 $0.455 $-
U.S SilicaSLCA05/08/20 $0.02 $-
Colony CapitalCLNY05/08/20 $0.11 $-
Outfront MediaOUT05/08/20 $0.38 $-
Host Hotels & ResortsHST05/07/20 $0.20 $-
The Cheesecake FactoryCAKE05/05/20 $0.36 $-
New Mountain FinanceNMFC05/07/20 $0.34 $0.30
CVR EnergyCVR05/06/20 $0.80 $0.40
Kontoor BrandsKTB05/07/20 $0.56 $-
Office DepotODP05/06/20 $0.025 $-
Wynn ResortsWYNN05/06/20 $1.00 $-
GrafTech InternationalEAF05/06/20 $0.085 $0.01
KAR Auction ServicesKAR05/07/20 $0.19 $-
Marathon OilMRO05/06/20 $0.05 $-
WelltowerWELL05/06/20 $0.87 $0.61
EPR PropertiesEPR05/06/20 $0.3825 $-
Wendy’sWEN05/06/20 $0.12 $0.05
Suncor EnergySU05/05/20 $0.465 $0.21
Capitala Finance CorpCPTA04/01/20 $0.0833 $0.0833
Sabine Royalty TrustSBR05/05/20 $0.2582 $0.15171
Carter’sCRI05/05/20 $0.60 $-
The Walt Disney CompanyDIS05/05/20 $0.88 $-
Manning & NapierMN04/22/20 $0.02 $-
TerexTEX04/30/20 $0.12 $-
SandRidge Permian TrustPER04/23/20 $0.08 $-
Expedia GroupEXPE04/23/20 $0.34 $-
CONSOL Coal Resources LPCCR04/24/20 $0.5125 $-
Citi TrendsCTRN04/28/20 $0.08 $-
Fresh Del Monte ProduceFDP04/29/20 $0.10 $0.05
Dine Brands GlobalDIN04/29/20 $0.76 $-
Armada Hoffler PropertiesAHH04/30/20 $0.22 $-
SITE CentersSITC04/30/20 $0.20 $-
NUStar Energy L.P.NS05/01/20 $0.40 $0.60
Piper Sandler CompaniesPIPR05/01/20 $0.375 $0.20
The Marcus CorporationMCS04/30/20 $0.17 $-
American Airlines GroupAAL04/30/20 $0.10 $-
WestRockWRK05/05/20 $0.465 $0.20
Mercer InternationalMERC04/30/20 $0.138 $0.065
Urban Edge PropertiesUE03/31/20 $0.22 $-
PacWest BancorpPACW05/01/20 $0.60 $0.25
WeyerhauserWY05/01/20 $0.34 $-
MethanexMEOH05/01/20 $0.36 $0.0375
Gaming and Leisure PropertiesGLPI04/30/20 $0.70 $0.60
Apollo Global ManagementAPO05/01/20 $0.89 $0.42
Alexander & BaldwinALEX04/30/20 $0.19 $-
MGM Resorts InternationalMGM04/30/20 $0.15 $0.0025
Altra Industrial MotionAIMC04/30/20 $0.17 $0.04
WoodwardWWD04/30/20 $0.28 $0.08125
FluorFLR05/01/20 $0.10 $-
Western DigitalWDC04/30/20 $0.50 $-
Dunkin BrandsDNKN04/30/20 $0.4025 $-
Retail Opportunity InvestmentsROIC04/22/20 $0.20 $-
Global Net LeaseGNL04/01/20 $0.53 $0.40
Park Hotels & ResortsPK03/16/20 $0.45 $-
WinmarkWINA04/29/20 $0.25 $0.05
Marine ProductsMPX04/29/20 $0.12 $0.08
NGL Energy PartnersNGL04/27/20 $0.40 $0.20
RollinsROL04/29/20 $0.12 $0.08
Royal Dutch ShellRDS.A04/30/20 $0.94 $0.32
CorEnergy Infrastructure TrustCORR04/28/20 $0.75 $0.05
KnollKNL04/27/20 $0.17 $0.0400
Equity Midstream PartnersEQM04/27/20 $1.16 $0.3875
Harley-DavidsonHOG04/28/20 $0.38 $0.02
Copa HoldingsCPA04/27/20 $0.80 $-
Global PartnersGLP04/27/20 $0.525 $0.3938
CNX Midstream PartnersCNXM04/27/20 $0.4143 $0.0829
Southern CopperSCCO04/25/20 $0.40 $0.20
General MotorsGM04/27/20 $0.38 $-
Alliance Data SystemsADS04/23/20 $0.63 $0.21
InfraCap MLP ETFAMZA04/17/20 $0.30 $0.25
Plains All American PipelinePAGP04/07/20 $0.36 $0.18
Holly Energy PartnersHEP04/24/20 $0.6725 $0.35
Westwood HoldingsWHG02/05/20 $0.72 $0.43
Alliance Resource PartnersARLP03/30/20 $0.40 $-
Black Stone MineralsBSM04/22/20 $0.30 $0.08
Manhattan Bridge CapitalLOAN02/07/20 $0.12 $0.11
TecnoglassTGLS03/02/20 $0.14 $0.0275
The Cato CorporationCATO04/06/20 $0.33 $-
REV GroupREVG04/09/20 $0.05 $-
Hyatt HotelsH04/21/20 $0.20 $-
USG PartnersUSDP04/23/20 $0.37 $0.111
Bluegreen VacationsBXG04/22/20 $0.13 $-
OneSpaWorldOSW03/24/20 $0.04 $-
AptivAPTV03/23/20 $0.22 $-
US EcologyECOL03/31/20 $0.18 $-
PVH CorpPVH04/07/20 $0.0375 $-
Berry CorporationBRY04/01/20 $0.12 $-
Bassett Furniture IndustriesBSET04/02/20 $0.125 $-
Howmet AerospaceHWM04/14/20 $0.02 $-
Group 1 AutomotiveGPI04/07/20 $0.30 $-
Eagle MaterialsEXP04/13/20 $0.10 $-
Clevland-CliffsCLF04/15/20 $0.06 $-
PlantronicsPLT04/15/20 $0.15 $-
MTS Systems CorporationMTSC04/16/20 $0.30 $-
HCA HealthcareHCA04/21/20 $0.43 $-
RBB BancorpRBB04/20/20 $0.12 $0.06
Western Midstream PartnersWES04/20/20 $0.622 $0.311
Anworth Mortgage AssetANH04/21/20 $0.09 $0.05
Moelis MC04/22/20 $0.51 $0.255
Patterson-UTIPTEN04/23/20 $0.04 $0.02
InvescoIVZ04/23/20 $0.31 $0.155
Equinor ASAEQNR04/23/20 $0.26 $0.09
Choice Hotel’s InternationalCHH04/22/20 $0.225 $-
Landmark Infrastructure PartnersLMRK04/21/20 $0.37 $0.20
HexelHXL04/20/20 $0.17 $-
STMicroelectronicsSTM04/22/20 $0.06 $0.042
Green Plains PartnersGPP04/16/20 $0.475 $0.12
Goodyear Tire & RubberGT04/16/20 $0.16 $-
The TJX CompaniesTJX03/27/20 $0.92 $-
Dana IncorproatedDAN04/16/20 $0.10 $-
Kohl’sKSS04/17/20 $0.704 $-
Kelly ServicesKELYA04/15/20 $0.075 $-
MeredithMDP04/20/20 $0.595 $-
Columbia SportswearCOLM04/16/20 $0.26 $-
SchlumergerSLB04/17/20 $0.50 $0.125
Las Vegas SandsLVS04/17/20 $0.79 $-
Cedar FairFUN04/16/20 $0.935 $-
LVMH Moet Hennessy Louis VuittonLVMHF04/16/20 $6.8978 $5.20
Cinemark HoldingsCNK04/15/20 $0.36 $-
Broadmark Realty CapitalBRMK04/13/20 $0.08 $0.06
Golub Capital BDCGBDC04/13/20 $0.33 $0.29
Surge EnergyZPTAF04/15/20 $0.0006 $-
CovantaCVA04/14/20 $1.00 $0.32
HeadHunter GroupHHR04/15/20 $0.50 $-
Gladstone CapitalGLAD04/14/20 $0.07 $0.065
Mesabi TrustMSB04/13/20 $0.70 $0.05
AMC EntertainmentAMC02/27/20 $0.20 $0.03
EnLink MidstreamENLC03/24/20 $0.1875 $0.09375
Pebblebrook HotelPEB03/16/20 $0.38 $0.01
Signet JewlersSIG03/26/20 $0.37 $-
Redwood TrustRWT03/28/20 $0.32 $-
Genesis EnergyGEL04/13/20 $0.55 $0.15
SkyWestSKYW04/13/20 $0.14 $-
Estee LauderEL04/15/20 $0.48 $-
Noble EnergyNBL04/15/20 $0.12 $0.02
Anheuser-Busch InBevBUD04/14/20 $2.00 $1.00
Publicis Group S.A.PUBGY04/13/20 $0.5931 $0.2966
Freehold RoyaltiesFRHLF04/09/20 $0.0525 $0.015
CorePoint LodgingCPLG04/09/20 $0.20 $-
AGNC InvestmentAGNC04/08/20 $0.16 $0.12
Orchid Island CapitalORC04/08/20 $0.08 $0.055
Six Flags EntertainmentSIX04/08/20 $0.25 $-
Continental ResourcesCLR04/07/20 $0.05 $-
Plains All American PipelinePAA04/07/20 $0.36 $0.18
CAECAE04/06/20 $0.079 $-
AutolivALV04/03/20 $0.62 $-
Diversified Healthcare TrustDHC04/03/20 $0.15 $0.01
Herman MillerMLHR04/03/20 $0.21 $-
CenterPoint EnergyCNP04/02/20 $0.29 $0.150
Macquarie InfrastructureMIC04/02/20 $1.00 $-
Enable Midstream Partners LPENBL04/02/20 $0.3305 $0.16525
Cenovus EnergyCVE04/02/20 $0.625 $-
Norsk HydroNHYDY04/02/20 $0.12 $-
Dave & Buster’s EntertainmentPLAY04/02/20 $0.16 $-
Bed, Bath & BeyondBBBY04/02/20 $0.17 $-
Brinker InternationalEAT04/02/20 $0.38 $-
GannettGCI04/01/20 $0.38 $-
HSBC HoldingsHSBC04/01/20 $0.21 $-
BarclaysBCS04/01/20 $0.2809 $-
Lloyds Banking GroupLYG04/01/20 $0.1049 $-
Royal Bank of ScotlandRBS04/01/20 $0.1296 $-
Helmerich & PayneHP04/01/20 $0.7100 $0.250
Global Net LeaseGBL04/01/20 $0.53 $0.40
Murphy Oil CorporationMUR04/01/20 $0.25 $0.125
Vail ResortsMTN04/01/20 $1.76 $-
New ResidentialNRZ03/31/20 $0.50 $0.05
Carnival CorporationCCL03/31/20 $0.50 $-
Pennsylvania REITPEI03/31/20 $0.21 $0.02
Children’s PlacePLCE03/31/20 $0.56 $-
WPP plcWPP03/31/20 $1.3892 $-
American Finance TrustAFIN03/30/20 $1.10 $0.85
Cedar RealtyCDR03/30/20 $0.05 $0.01
PBF EnergyPBF03/30/20 $0.30 $-
Service Properties TrustSVC03/30/20 $0.54 $0.01
La-Z-BoyLZB03/29/20 $0.14 $-
L BrandsLB03/27/20 $0.30 $-
GapGPS03/26/20 $0.24 $-
Oxford IndustriesOXM03/26/20 $0.37 $0.25
PetrobrasPBR03/26/20 $0.25 $-
Granite Point Mortgage TrustGPMT03/26/20 $0.42 $-
MovadoMOV03/26/20 $0.20 $-
TapestryTPR03/26/20 $0.3375 $-
EQT CorporationEQT03/26/20 $0.03 $-
LearLEA03/26/20 $0.77 $-
BGC PartnersBGCP03/26/20 $0.14 $-
Arlington Asset InvestmentAI03/26/20 $0.225 $-
MFA FinancialMFA03/26/20 $0.20 $-
Hilton Worldwide HoldingsHLT03/26/20 $0.15 $-
Nabors IndustriesNBR03/25/20 $0.01 $-
PennyMac Mortgage Investment TrustPMT03/25/20 $0.47 $0.25
City Office REITCIO03/25/20 $0.2350 $0.15
Two Harbors InvestmentTWO03/25/20 $0.40 $-
Cracker Barrel Old Country StoreCBRL03/25/20 $1.30 $-
Boyd GamingBYD03/25/20 $0.07 $-
Summit HotelINN03/25/20 $0.18 $-
Alaska Air GroupALK03/25/20 $0.375 $-
Texas RoadhouseTXRH03/25/20 $0.36 $-
Sabra Health Care REITSBRA03/25/20 $0.45 $0.30
SteelcaseSCS03/24/20 $0.15 $0.07
Whitestone REITWSR03/24/20 $0.095 $0.035
SynnexSNX03/24/20 $0.40 $-
NordstromJWN03/23/20 $0.37 $-
Freeport-McMoRanFCX03/23/20 $0.05 $-
BJ’s RestaurantsBJRI03/23/20 $0.13 $-
DCP MidstreamDCP03/23/20 $0.78 $0.390
New York Mortgagte TrustNYMT03/23/20 $0.80 $-
Invesco Mortgage CapitalIVR03/23/20 $0.50 $0.02
Ashford Hospitality TrustAHT03/21/20 $0.06 $-
Macy’sM03/20/20 $0.34 $-
Calvin B. Taylor BancsharesTYCB03/20/20 $0.31 $0.26
Bloomin BrandsBLMN03/20/20 $0.20 $-
BoeingBA03/20/20 $2.055 $-
Emerald HoldingsEEX03/20/20 $0.075 $-
Delta AirlinesDAL03/20/20 $0.4025 $-
Apple Hospitality REITAPLE03/20/20 $1.20 $-
Targa ResourcesTRGP03/19/20 $0.91 $0.10
GeoParkGPRK03/19/20 $0.0413 $-
Ford Motor CompanyF03/19/20 $0.15 $-
Flexible Solutions InternationalFSI03/19/20 $0.075 $-
Hersha HospitalityHT03/19/20 $0.28 $-
Darden RestaurantsDRI03/19/20 $0.88 $-
RLJ Lodging TrustRLJ03/18/20 $0.33 $0.01
Marriott InternationalMAR03/18/20 $0.48 $-
DiamondRock HospitalityDRH03/18/20 $0.125 $-
Designer BrandsDBI03/17/20 $0.25 $0.10
Kosmos EnergyKOS03/17/20 $0.0452 $-
Ryman Hospitality PropertiesRHP03/17/20 $0.95 $-
Chatham Lodging TrustCLDT03/17/20 $0.11 $-
SabreSABR03/17/20 $0.14 $-
MacerichMAC03/16/20 $0.75 $0.50
Core Labortaratories N.V.CLB03/16/20 $0.25 $0.01
Canterbury Park HoldingCPHC03/16/20 $0.07 $-
Vermilion EnergyVET03/16/20 $0.115 $0.02
ApacheAPA03/12/20 $0.25 $0.025
Occidental PetroleumOXY03/10/20 $0.79 $0.11
StarrettSCX03/08/20 $0.10 $-
Washington Prime GroupWPG02/27/20 $0.25 $0.125
Seadrill Partners LLCSDLPF02/27/20$0.01 $-
Range ResourcesRRC02/27/20$0.02 $-
AMC EntertainmentAMC02/27/20$0.20 $0.030
Jernigan CapitalJCAP02/21/20$0.35 $0.230
JMP Group LLCJMP02/19/20$0.04 $-
Spirit AeroSystems HoldingsSPR02/07/20$0.12 $0.010
Manhattan Bridge CapitalLOAN02/07/20$0.12 $0.110
Whiting USA Trust IIWHZT02/06/20$0.06 $0.010
ECA Marcellus Trust IECMT02/06/20$0.02 $0.020
Westwood HoldingsWHG02/05/20$0.72 $0.430
TESSCO TechnologiesTESS01/27/20$0.20 $0.020
FAQs About Dividend Reductions and Omissions During the COVID Pandemic
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.
Coronavirus Dividend Cuts and Suspensions Analyses
The 33 analyses in the list below are about companies that have cut or suspended their dividends during the pandemic. Some of them 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.
Disney’s Dividend Suspended because of COVID-19.
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 dividend cut by BP PLC (BP) was the second by an oil major. The divided will likely be fixed moving forward.
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.
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 dividend cut by AT&T (T) was unexpected and big.
International Paper (IP) was an unexpected dividend cut.
Weyco Group (WEYS) is no longer a Dividend Champion after freezing its dividend.
Mercury General (MCY) cut its dividend after 35 years of increases.
B&G Foods (BGS) cuts its dividend because of too high debt from acquisitions.
Industrial Logistics Properties Trust (ILPT) cut its dividend because of an acquisition and rising interest expense.
SL Green Realty (SLG) Dividend Cut because of decelerating growth and a weak balance sheet.
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.
Source: S&P 500 Dow Jones Indices
Global Effect
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.
Source: Janus Henderson Global Dividend Index, Edition 27
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.
Source: Janus Henderson Global Dividend Index, Edition 28
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.
Source: Janus Henderson Global Dividend Index, Edition 28
The relative difference between the magnitudes of the cuts in each sector can be seen below.
Source: Janus Henderson Global Dividend Index, Edition 28
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.
The statements in the preceding paragraph are supported by a 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.
Dividend Suspension By Category and Recession
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? Whether to sell a dividend stock or not is a difficult question to answer. Pure dividend growth investors probably sell a stock on a divided cut. But reasons exist to hold stocks too after a cut or suspension.
Moreover, 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 our 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.
Related Articles on Dividend Power
The Smart Investors Playbook for Avoiding Dividend Cuts
Many REITs Cut or Suspended Their Dividends in 2024
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