Commercial real estate company Paramount Group, Inc. (NYSE: PGRE) ('Paramount') announced today that its board of directors has declared a reduced quarterly cash dividend of $0.035 per share of common stock (a new indicated annual rate of $0.14 per share), for the period from April 1, 2023 to June 30, 2023.
A dividend cut rarely happens in the United States , but when it happens it's mostly a big cut with the stock price taking a beating at the same time. We look at five reasons why companies will cut or suspend their dividend.
Intel (INTC) announced a big dividend cut in 2023. As of July 10, 2023, a total of 15 US listed stocks have announced a dividend cut so far. This however compares to more than 500 dividend hikes YTD. The most shocking dividend cuts in 2023 came from Intel (INTC) and VF Corporation (VFC).