Co-produced with Trapping Value
The past few weeks have been difficult on income investors. While the traditional dividend season was generally associated with the occasional dividend increases, this one has come straight from a Stephen King novel. The pace of dividend cuts in the stock market announced so far this year exceeds any single year totals for the past decade (2010-2019).
Source: MarketBeat
Early in May we exceeded the total dividend cut announcements in the entire calendar year of 2009. Some cuts have been particularly brutal like MGM resorts (MGM) cutting its dividend