The quarterly dividend is cut from $0.32 to $0.30 per share. Last year the quarterly dividend was cut from $0.34 to $0.32. After three payments of $0.32 per share, CYS Investments now cuts its dividend again to $0.30.
US retailer Big 5 Sporting Goods (symbol: BGFV) has announced a 50% dividend cut from $0.25 to $0.125 quarterly per share. This is the third dividend cut since 2018 by the specialty retailer. Even with the big cut included the dividend yield remains high with 7% at a stock price of $7.06.
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).