AQN - 3 Stocks That Slashed Their Dividend Payments In 2023
2023-03-29 10:15:00 ET
This past year has been a tough one for investors, especially those who rely on dividend payments. Worsening economic conditions have led to many companies cutting or suspending their payouts. It serves as a painful but important reminder that dividend payments are never a guarantee.
Three companies that recently slashed or suspended their dividend payments include Intel (NASDAQ: INTC) , Algonquin Power & Utilities Corp (NYSE: AQN) , and Healthcare Services Group (NASDAQ: HCSG) . Below, I'll look at why they announced changes this year and whether these stocks could make for good contrarian investments.
Semiconductor giant Intel announced in February that it would be slashing its dividend by a whopping 66%, down to $0.125 per quarter. For many, it didn't come as a surprise as the chipmaker was struggling to keep its free cash flow positive in recent quarters.
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3 Stocks That Slashed Their Dividend Payments In 2023