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Oil And Gas Industry Dominate January 2019 Dividend Cuts

Published Wed, 30 Jan 2019 05:49:40 -0500 on Seeking Alpha

The near-real time sources that we track for dividend cut announcements is signaling that something wicked is happening within the U.S. oil and gas industry.
Setting the scene for context, the fourth quarter of 2018 ended with an ominous undertone in an otherwise positive year for dividend-paying stocks in the United States:
By far and away, the oil and gas industry saw the greatest amount of distress during the fourth quarter of 2018, accounting for 63% of our sample and coinciding with a significant decline in oil prices during the quarter as global demand diminished. The financial sector, including Real Estate Investment Trusts (REITs), came in second with 17.4% of the dividend cuts in our sample, where the Fed's rate hikes negatively impacted eight of these interest rate-sensitive firms. Food producer and the manufacturing sector each recorded 2 dividend cutting firms each (manufacturing included the highly distressed GE), while the technology, mining, consumer goods and utility industries rounded out our sample with just one dividend cut recorded in each.
Now that January 2019 is nearly complete, we thought it might be worthwhile to check our two main sources for near-real time sample of dividend cut announcements to see how things are faring so far in the first quarter of 2019.
Compared to the first quarter of 2018, we find that the pace of dividend cut announcements is coming in above the level we recorded through the same point of time of the current... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
SANDRIDGE MISSISSIPPIAN TRUST I 0.63   3.5 0.18 0.15 23.01
SANDRIDGE MISSISSIPPIAN TRUST II 0.63   3.2 0.20 0.14 21.70
DYNAGAS LNG PARTNERS LP 1.41   0.0 -0.24 0.25 16.89
SANDRIDGE PERMIAN TRUST 1.76   3.7 0.48 0.28 16.23
MV OIL TRUST 7.64   5.0 1.53 1.22 15.93
BP PRUDHOE BAY ROYALTY TRUST 13.79   2.7 5.06 2.20 14.73
VOC ENERGY TRUST 5.80   7.7 0.75 0.64 11.35
MESA ROYALTY TRUST 11.58   9.8 1.18 1.13 9.88
CROSS TIMBERS ROYALTY TRUST 11.96   9.4 1.27 1.08 9.10
PERMIAN BASIN ROYALTY TRUST 5.51   10.0 0.55 0.48 8.45
SABINE ROYALTY TRUST 46.04   12.7 3.62 2.12 4.50
CSI COMPRESSCO LP 3.57   0.0 -0.77 0.04 1.10


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