No one likes a dividend cut. And thanks to the pandemic, those cuts are becoming more prevalent with each quarter. As companies look to save cash, often the dividend and buyback programs are the first things to go. And in the current crisis, it’s often whole sectors that see their payouts slashed. Retailers are a prime example.
So, when mega-bank Wells Fargo (WFC) recently cut its dividend by 80%, bank investors were certainly put on notice.
Given how strong the group’s dividend growth and yields have been over the last few years, the question now is whether Wells Fargo’s dividend cut was an isolated incident or if the whole sector could see cuts in the months ahead.
Our Best Dividend Stocks List has 20 of the highest-rated stocks by our proprietary Dividend.com Rating system. Go Premium to find out the entire list.
Get Email Updates
Join over 100,000 investors who get the latest news from Dividend.com
Top Retail Pick With 10 Years of Dividend Growth Solidifies Its Position on Best Dividend Stocks List
Check out our latest update to the Best Dividend Stocks List, wherein a...
Social Security was facing a major shortfall long before COVID-19, but the pandemic...