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Dividends: U.S. Economy Slipped Somewhat In August 2016

Published Wed, 07 Sep 2016 14:03:53 -0400 on Seeking Alpha

After posting their best two consecutive months since 2014, our monthly sampling of the number of U.S. firms acting to cut their dividends in August 2016 rose significantly.

The biggest change is that the number of firms in the oil production sector of the U.S. economy has declined significantly in recent months, thanks largely to the rebound in crude oil prices since they bottomed in February 2016.
Where they once dominated the count of the number of dividend-cutting firms, oil and gas firms now only make up a third of the total of our sample of 17 dividend-cutting firms for the month. The following chart gives an idea of where the level of distress in the U.S. economy appears to be increasing, but since it has been drawn from a small sample, we recognize that it may only represent a statistical blip that would hopefully not be sustained.

The table below lists the U.S. firms that announced dividend cuts during August 2016:
Publicly Traded U.S. Companies Cutting Dividends in August 2016
Date
Company
Old Dividend
New Dividend
2-Aug-2016
Ardmore Shipping (NYSE: ASC)
$0.16000
$0.11000
3-Aug-2016
Medallion Financial (Nasdaq: MFIN)
$0.25000
$0.05000
4-Aug-2016
Nordic American Offshore (NYSE: NAO)
$0.08000
$0.05000
4-Aug-2016
Computer Programs and Solutions (Nasdaq: CPSI)
$0.64000
$0.34000
5-Aug-2016
Apollo Investment (Nasdaq: AINV)
$0.20000
$0.15000
9-Aug-2016
... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
MESA ROYALTY TRUST 14.90   0.0 0.00 1.51 16.07
MARINE PETROLEUM TRUST 2.50   0.0 0.00 0.32 13.44
APOLLO INVESTMENT 15.58   18.3 0.85 1.80 11.73
SAN JUAN BASIN ROYALTY TRUST 4.79   0.0 0.00 0.19 10.81
MEDLEY CAPITAL 3.31   0.0 -1.63 0.20 5.92
WILLIAMS 28.68   0.0 0.00 1.52 5.29
DHT HOLDINGS 5.21   0.0 -0.33 0.20 3.93
MAGIC SOFTWARE ENTERPRISES 9.98   26.3 0.38 0.30 3.23
NORDIC AMERICAN OFFSHORE 4.51   0.0 0.00 0.10 3.16
COMMUNICATIONS SYSTEMS 2.82   0.0 0.00 0.08 2.90
COMPUTER PROGRAMS AND SYSTEMS 29.98   23.6 1.27 0.40 1.36
TEXTAINER GROUP 10.05   11.6 0.87 0.00 1.21
HOUSTON WIRE & CABLE 6.10   11.5 0.53 0.00 0.00
MEDALLION FINANCIAL 6.78   0.0 -1.03 0.00 0.00

MESA ROYALTY TRUST - MTR
MESA ROYALTY TRUST - MTR  


Older articles featuring Mesa Royalty Trust (MTR):
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