Let’s keep our heads and our dividends above water in this crazy year that is 2020. Most income investors know that it’s been brutal for dividends. But do you know how horrific it’s actually been?
Our pal Howard Silverblatt of S&P Dow Jones Indices has slapped an official number on it:
That’s how much cash U.S. stocks cut or suspended their dividends by in the second quarter alone. We haven’t seen pay cuts this steep since Q1 2009, when investors received $43.8 billion less in cash distributions than the year prior.
This wasn’t just a couple of large dividend programs tanking, either.… Read more