Mattel cuts dividend by 60.5%

Mattel (MAT) will lower its quarterly dividend from $0.38 to $0.15 per share.

The lowered dividend will be paid on September 15, 2017 to shareholders of record on August 23, 2017.

Mattel didn't raise its dividend for the last two years, following double digit dividend growth between 2010 and 2013.

At a stock price of $20.84 the new dividend yield for Mattel is 2.9 percent.

Mattel, Inc. manufactures and markets a range of toy products around the world. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands. The Mattel Girls & Boys Brands category includes Barbie fashion dolls.

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