by Andrey Dashkov
Let’s talk about dividends again…
With so much uncertainty in the market, plenty of people are looking to dividends to provide stable, passive income. That’s not a bad idea.
But this year, companies are canceling dividends on a grand scale. Year-to-date, there have already been over 160 dividend cancellations.
For context, there were over 50 dividend cancellations back in 2009, in the middle of the last financial crisis.
This time, they aren’t just obscure mom-and-pop companies. More than 20 of the cancellations this year came from companies in the S&P 500, across multiple sectors. We’re talking some of the largest businesses in the U.S., like General Motors, Disney, Boeing, and Hilton.