Dividend and distribution cuts (2017)

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Peculiar_Investor
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Dividend and distribution cuts (2017)

Post by Peculiar_Investor »

FWF'ers do an amazing job tracking down and reporting on dividend and distribution cuts. Thanks.

Please use this topic for announced 2017 cuts. Your fellow FWF'ers would appreciate if you could post a link to the announcement. Hopefully this topic won't need to be used much in 2017.
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Re: Dividend and distribution cuts (2017)

Post by Peculiar_Investor »

First one that I've seen, The Mosaic Company Reports Fourth Quarter And Full-Year 2016 Results; Updates Dividend Policy (NYSE: MOS). As to the update of the dividend policy, all they say is:
The Company announced a reduction in its targeted annual dividend to $0.60 per share, effective with the next declaration.
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Re: Dividend and distribution cuts (2017)

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Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
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Re: Dividend and distribution cuts (2017)

Post by Thegipper »

Newell had blowout numbers and it's stock is up 12% today. It increased it's dividend by 24%. My patience was wearing thin on this. This news was timely.
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Re: Dividend and distribution cuts (2017)

Post by Shakespeare »

This is the cuts thread....
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Re: Dividend and distribution cuts (2017)

Post by Thegipper »

feeling stupid
2 yen
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Re: Dividend and distribution cuts (2017)

Post by 2 yen »

Thegipper wrote: 08 May 2017 23:22 feeling stupid
Welcome to the club. Chin up.

2 yen
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Re: Dividend and distribution cuts (2017)

Post by Shakespeare »

Nice to see the cuts thread is short this year.
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Re: Dividend and distribution cuts (2017)

Post by jeremy »

Aimia Provides Update on Dividends
Data-driven marketing and loyalty analytics company Aimia Inc. (TSX: AIM) (the "Company") today announced that its Board of Directors has suspended payment of all dividends on both its outstanding common shares and its Series 1, Series 2 and Series 3 Cumulative Rate Reset Preferred Shares (collectively, the "Preferred Shares") effective immediately. This includes the previously declared dividends originally scheduled to have been paid on June 30, 2017, to shareholders of record as of June 16, 2017.
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Re: Dividend and distribution cuts (2017)

Post by JaydoubleU »

Dream Office REIT cuts distribution by 33%:

https://www.theglobeandmail.com/feeds/p ... 97914001-1

More like a nightmare for income investors.
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Re: Dividend and distribution cuts (2017)

Post by JaydoubleU »

Nice to see the cuts thread is short this year.
It is even shorter when you consider that 6 of the 12 posts so far are comments, not cut announcements, including this one!
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Re: Dividend and distribution cuts (2017)

Post by gibor »

JaydoubleU wrote: 23 Jun 2017 08:53 Dream Office REIT cuts distribution by 33%:

https://www.theglobeandmail.com/feeds/p ... 97914001-1

More like a nightmare for income investors.
and stock is up 4% :), strange.....
In any case, i don't hold D.UN, but hold DRG.UN and they look OK :)
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Re: Dividend and distribution cuts (2017)

Post by adrian2 »

Teva Pharma (TEVA) Lowers Quarterly Dividend 75% to $0.085; 1.1% Yield
Teva Pharma (NYSE: TEVA) declared a quarterly dividend of $0.085 per share, or $0.34 annualized. This is a 75% decrease from the prior dividend of $0.34.
Others have seen it coming:
https://www.simplysafedividends.com/tev ... end-stock/

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Teva Pharmaceutical’s Dividend Safety Score of 38 indicates that the company’s dividend could be at risk of being cut in the future.
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Re: Dividend and distribution cuts (2017)

Post by Thegipper »

adrian2 wrote: 03 Aug 2017 11:34 Teva Pharma (TEVA) Lowers Quarterly Dividend 75% to $0.085; 1.1% Yield
Teva Pharma (NYSE: TEVA) declared a quarterly dividend of $0.085 per share, or $0.34 annualized. This is a 75% decrease from the prior dividend of $0.34.
Others have seen it coming:
https://www.simplysafedividends.com/tev ... end-stock/

Image
Teva Pharmaceutical’s Dividend Safety Score of 38 indicates that the company’s dividend could be at risk of being cut in the future.
It's looking like a value trap.
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Cominar

Post by bpither »

Well it finally happened ...
Decreased monthly distribution from $0.1225 per unit to $0.095 per unit
http://www.newswire.ca/news-releases/co ... 07663.html

Ya gotta love "restores its flexibility" as you get a bop on the head.
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Re: Dividend and distribution cuts (2017)

Post by Thanh »

Cominar Restores Its Flexibility
On August 3, 2017, Cominar decreased the monthly distribution from $0.1225 per unit to $0.095 per unit, beginning with the distribution of August 2017 payable in September 2017.
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Re: Dividend and distribution cuts (2017)

Post by milton »

https://www.aimia.com/en/media-center/n ... 17-results
Aimia Provides Update on Dividends (or lack of dividends) to Shareholders:
As communicated on June 14, 2017, the Company is prohibited from paying dividends declared on May 10, 2017, and originally scheduled to have been paid on June 30, 2017, as well as declaring any further dividends on any of the outstanding Common Shares or Preferred Shares, based on Aimia's determination that the capital impairment test set forth in paragraph 42(b) of the Canada Business Corporations Act (the "CBCA") would not be satisfied.
Recognizing the need to preserve the Company's financial flexibility, liquidity and capital resources in the coming years, the Board has further determined that the Company will not declare dividends on its Common Shares for the foreseeable future, irrespective of the capital impairment test.
With respect to the Company's Preferred Shares, dividends continue to accrue in accordance with their terms even if they are not declared.
There can be no assurance that the Company will, at some future point in time, be in a position to pay the dividends previously declared and declare and/or pay any future dividends.
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Re: Dividend and distribution cuts (2017)

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Re: Dividend and distribution cuts (2017)

Post by AltaRed »

That was expected given GE's cash drain this year. They are in a world of hurt given terrible decisions made in recent years.
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Re: Dividend and distribution cuts (2017)

Post by Hammerer »

AltaRed wrote: 13 Nov 2017 10:02 That was expected given GE's cash drain this year. They are in a world of hurt given terrible decisions made in recent years.
But when is it time to buy?!? When's Warren Buffett coming in for a second rodeo?

They've been through this in 2008-2009 because of over-exposure to finance. Oddly enough, the share of Synchrony that GE shareholders could have exchanged for was a very wise choice when it was available.
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Re: Dividend and distribution cuts (2017)

Post by AltaRed »

I don't know much (very little?) about GE's specifics, but I'd want to see 2-4 quarters of improved cash flow, improved balance sheet and the sale of some business lines before dipping a toe in the water. Turnaround stories often take a few years before they show momentum.
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Re: Dividend and distribution cuts (2017)

Post by FinEcon »

A couple of months before it takes effect but Boardwalk holders that care about the distribution can assume the position!

https://www.bwalk.com/en-CA/Investors/G ... cument/291
Beginning in 2018, the Trust’s distribution policy is consistent with the Trust’s long-term focus of NAV growth and will comprise of
an annual distribution, paid monthly, at least equal to the taxable portion of the Trust’s income.
This formal policy will allow the Trust to retain a significant portion of cashflow to re-invest in capital growth opportunities.

Month Per Unit Annualized Record Date Distribution Date
Nov-17 $0.1875 $2.25 30-Nov-17 15-Dec-17
Dec-17 $0.1875 $2.25 29-Dec-17 15-Jan-18
Jan-18 $0.0834 $1.00 31-Jan-18 15-Feb-18
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Re: Dividend and distribution cuts (2017)

Post by OnlyMyOpinion »

FinEcon wrote: 15 Nov 2017 10:59 A couple of months before it takes effect but Boardwalk holders that care about the distribution can assume the position!
...
Thanks for the heads up on this. I'm out as of a few minutes ago. Time will tell, but based on a few other past cuts, getting out and letting the market fully digest seems prudent. Now more cap gains to try to mitigate and more cash to redeploy :(
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