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Dividend Cuts Coming Fast And Furious In 2015

Published Tue, 24 Feb 2015 07:52:26 -0500 on Seeking Alpha

We're less than two months into the year, yet there have already been at least 17 substantive dividend cuts or dividend suspensions for U.S.-listed stocks.Of course, many companies in the energy sector are being forced to employ minimalistic dividend policies.In particular, the challenging offshore drilling market continues to put pressure on rig owners. Earlier this week, Transocean (NYSE: RIG) slashed its dividend payout by 80%. This followed Diamond Offshore Drilling's (NYSE: DO) decision to entirely scrap its special dividend, which it had been paying every year since 2006.In 2014, these stocks were coveted for their high dividend yields. Unsurprisingly, though, investors who indiscriminately chased high yields (so-called "yield hogs") are now being punished.But don't say you weren't warned…My Dividend Death Watch is quickly becoming the scene of a dividend massacre, with five of the 11 targeted companies now having cut their payouts.The infrastructure MLPs on my list may take a bit longer to cut their distributions, but I do think they'll have to axe them before it's all said and done. Vanguard Natural Resources (Nasdaq: VNR), an upstream master limited partnership (MLP), just cut its distribution by 44%. It was at the very top of my list of unsustainable distributions.Meanwhile, many MLPs that I haven't covered, such as Mid-Con Energy Partners LP (Nasdaq: MCEP), will continue cutting their distributions.But... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
TRANSOCEAN 5.65   0.0 -1.98 0.00 10.34
DIAMOND OFFSHORE DRILLING 7.78   0.0 -2.31 0.00 6.49
CLIFFS NATURAL RESOURCES 8.34   2.2 3.88 0.24 3.09

TRANSOCEAN - RIG
TRANSOCEAN - RIG  


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