Mattel cancels dividend in fourth quarter of 2017

As expected by many analysts toy products maker Mattel has announced the elimination of its quarterly dividend.

Mattel Inc (MAT) will cancel its quarterly dividend, starting in Q4 of 2017. By suspending its dividend Mattel saves $50 million on a quarterly basis.

The troubled company had already lowered its quarterly dividend from $0.38 to $0.15 per share this summer. Now, after just one quarter, the remaining 15 cents dividend payment will also be stopped.

Mattel's stock got crushed last Friday and has lost 49.2 percent year-to-date based on the $14.00 closing price. The surprising thing is that out of fourteen analysts that following Mattel, 5 had a buy rating, with 8 holds and just 1 sell as of Friday.

Mattel, Inc. manufactures and markets a range of toy products around the world. The Company's brands include Barbie fashion dolls, Monster High, Hot Wheels and Matchbox vehicles and play sets, and CARS, Disney Planes, BOOMco, Toy Story, Max Steel, WWE Wrestling and DC Comics. Mattel also owns the Fisher-Price brand.

Recent headlines