The Dividend Daily

Western Refining (WNR) finally confirms what the stock tape has been telling us: things are not good in refining country. The company has just announced they will be suspending their dividend payments until at least through the end of 2009. WNR had hit all-time highs last summer, when shares touched the $65 level (the stock has since freefalled to under $12 per share). Investors need to remember that dividend stocks are not all created equal, and discipline is needed when deteriorating company fundamentals move a stock price as much as we witnessed with Western Refining. Dividend.com had rated Western Refining a 2.6 stars out of 5, which was, in essence, an "avoid" rating. Since Western Refining has suspended their dividend, we are suspending our coverage of this stock. Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system here.

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