Dividends By The Numbers In June 2020 And 2020-Q2

The last quarter has proven to be especially brutal. Here is our summary of the dividend metadata for increases, decreases, and suspensions for the entire quarter of 2020-Q2:

  • 192 U.S. firms announced they would boost cash dividend payments to shareholders in 2020-Q2, a decrease of 430 from the 622 recorded in 2020-Q1, and a decrease of 197 from the 389 dividend rises declared in the year-ago quarter of 2019-Q2.
  • 305 U.S. firms officially declared they would cut their dividends in 2020-Q2, an increase of 198 over the number recorded in 2020-Q1, and also an increase of 246 dividend reductions announced in 2019-Q2.
  • 334 U.S. firms omitted or officially suspended paying their dividends during the second quarter of 2020, an increase of 307 over the previous quarter's total of 27. That figure is also 331 higher than the 3 that were number recorded a year ago in the second quarter of 2019.

We also tracked dividend cuts and suspensions in near real-time throughout 2020-Q2, which gives a sense of just how devastating the impact of the Coronavirus Recession has been in comparison to the second quarters of 2017, 2018, and 2019:

(Click on image to enlarge)

Cumulative Total Dividend Cuts in U.S. by Day of Quarter, 2017-Q2 vs 2018-Q2 vs 2019-Q2 vs 2020-Q2, Snapshot 2020-06-30

Here's the full list of 34 dividend cut and suspension announcements we extracted from our near real-time sampling for just the recently expired month of June 2020, where clicking the links for the company names will take you to our source for their respective announcements. Please note in the following list that several firms pay variable dividends on a monthly basis, particularly in the oil and gas industry, where these firms have previously appeared in our monthly tallies during the past three calendar months of 2020-Q2, which we're not differentiating from firms that fix the amount of their dividends somewhat independently of their revenues and cash flows because the distinction has become irrelevant in the current economic climate.

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