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Dividend Cuts At The Midpoint Of April 2020

Published Thu, 16 Apr 2020 09:00:11 -0400 on Seeking Alpha

When recessionary conditions are present in the U.S. economy, we see 25 or more dividend cut announcements during the course of a single month.
We're at the halfway point of April 2020, we're barely into earnings season when most companies issue dividend declarations, and we've already tallied 25 from our regular sampling of dividend declaration announcements.
A list of firms that have either announced dividend cuts or have suspended their dividend payments.
As a general rule of thumb, when recessionary conditions are present in the U.S. economy, we'll see 25 or more dividend cut announcements during the course of a single month. We're at the halfway point of April 2020, we're barely into earnings season when most companies issue dividend declarations, and we've already tallied 25 from our regular sampling of dividend declaration announcements.
Not that it's a surprise to anyone at this point, but here's the chart to confirm the U.S. economy is well into the red zone that corresponds with the U.S. economy experiencing recessionary conditions in 2020-Q2.

Here's the list of firms that have either announced dividend cuts or have suspended their dividend payments:
Global Net Lease (REIT-Office) (GNL) Gannett (GCI) Elmer Bancorp (ELMA) Murphy Oil (MUR) Golar LNG Partners (GMLP) Diversified Healthcare Trust (REIT-Healthcare) (DHC) Macquarie Infrastructure (MIC) BP Prudhoe Bay Royalty Trust (BPT) Herman Miller (MLHR) William H. Sadlier (SADL) Ellington Financial (Mortgage Finance) (EFC) Plains All American Pipeline (PAA) Plains GP Holdings (PAGP) Orchid Island Capital (REIT-Mortgage) (ORC) CorePoint Lodging (REIT-Hotel) (CPLG) SM Energy (SM) AGNC Investment Corp. (REIT-Mortgage) (AGNC) Broadmark Realty Capital (REIT-Mortgage) (BRMK) Genesis Energy (GEL) Eagle Materials (EXP) Harvest Capital Credit (HCAP) Mesabi Trust (MSB) Gladstone Capital (GLAD) Cleveland-Cliffs (CLF) Eagle Point Credit (ECC) In this list, there are 11 firms that hail from... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
BP PRUDHOE BAY ROYALTY TRUST 9.12   2.2 4.14 2.20 23.88
ORCHID ISLAND CAPITAL 5.58   0.0 -0.29 0.96 17.75
GOLAR LNG PARTNERS LP 9.47   105.2 0.09 1.62 16.63
EAGLE POINT CREDIT 16.14   0.0 -1.13 2.40 14.64
AMERICAN CAPITAL AGENCY 15.64   0.0 -1.54 1.92 12.21
GENESIS ENERGY LP 21.10   0.0 -0.35 2.20 10.30
MACQUARIE INFRASTRUCTURE 39.63   34.2 1.16 4.00 10.04
ELLINGTON FINANCIAL 17.90   16.3 1.10 1.68 9.44
GLADSTONE CAPITAL 9.50   63.3 0.15 0.84 8.84
PLAINS ALL AM. PIPELINE 21.20   5.3 3.99 1.44 6.75
GANNETT 10.82   98.4 0.11 0.64 5.89
MURPHY OIL 20.42   10.7 1.91 1.00 4.79
MESABI TRUST 24.73   7.3 3.37 0.84 3.57
CLIFFS NATURAL RESOURCES 8.34   2.2 3.88 0.24 3.09
HERMAN MILLER 44.24   16.4 2.70 0.84 1.92
SM ENERGY 9.85   25.3 0.39 0.10 0.92
EAGLE MATERIALS 86.73   97.4 0.89 0.40 0.46

BP PRUDHOE BAY ROYALTY TRUST - BPT
BP PRUDHOE BAY ROYALTY TRUST - BPT  


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