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MITT - Dividend Massacre In This Crisis Is Already Breaking Records But It Just Started
AG Mortgage Investment Trust Inc.
Dividend yield can be an irresistible siren song in the era of central bank interest rate and bond yield repression: Harley-Davidson's (HOG) dividend yield was over 7% until this morning - when it announced that it would slash its dividend by 95%, from 38 cents to a symbolic 2 cents to conserve cash. Going forward, the dividend yield will be close to 0%.
GM (GM), whose dividend yield was an alluring 6.5%, announced yesterday that it would eliminate its dividend altogether to save about $2 billion in cash; and going forward, its dividend yield will