Bad new for shareholders in UK energy giant SSE PLC because the former Dividend Aristocrat has announced plans to rebase its dividend to 60 pence per share. Last year SSE also cut its dividend, ending a long history of increased dividends to shareholders.
PPL had previously hiked its dividend for 19 consecutive years Utility PPL Corporation (symbol PPL) has announced a dividend cut of 51.8% o 20 cents per share in 2022. PPL shareholders had a warning last year when the dividend was not increased after 19 straight years with an increase in the annual dividend.
Shell Midstream Partners (SHLX) will cut its quarterly dividend by almost 35% to 30 cents per share. The MLP last raised its quarterly distribution by 3.4 percent to $0.46 per unit in Q1 of 2020. The dividend cut ends five straight years of distributions paid by Shell Midstream.