The 10 biggest dividend cuts in the USA for 2024

Dividend cuts can signal a company's financial difficulties or a strategic shift in resource allocation. Here, we highlight the 10 companies in the USA with the largest dividend cuts in 2024 so far. Included are their dividend cuts, yields, year-to-date (YTD) stock performance, and latest stock prices, along with a brief description of their business activities. The two biggest cuts include two former dividend aristocrats: 3M (MMM) and Walgreens Boots Alliance (WBA).

1. TTEC Holdings Inc (TTEC) - Dividend Cut: -88.5%, Yield: 1.87%, YTD Stock Performance: -70.19%, Latest Stock Price: $6.42

TTEC Holdings Inc provides customer experience (CX) technology and services. The company offers a range of solutions to help businesses manage and improve their customer interactions, including consulting, analytics, and cloud-based CX technology platforms.

2. NU Skin Enterprises Inc (NUS) - Dividend Cut: -84.6%, Yield: 1.96%, YTD Stock Performance: -36.44%, Latest Stock Price: $12.23

NU Skin Enterprises Inc is a global direct selling company that develops and distributes personal care products and dietary supplements. The company's product lines include skin care, hair care, oral care, and wellness products.

3. Cracker Barrel Old Country Store Inc (CBRL) - Dividend Cut: -80.8%, Yield: 2.26%, YTD Stock Performance: -39.32%, Latest Stock Price: $44.96

Cracker Barrel Old Country Store Inc is a restaurant and retail company that operates Cracker Barrel restaurants. The company offers home-style country cooking and sells various decorative and functional items through its retail stores located in the same premises as its restaurants.

4. Territorial Bancorp Inc (TBNK) - Dividend Cut: -80.0%, Yield: 0.52%, YTD Stock Performance: -29.85%, Latest Stock Price: $7.77

Territorial Bancorp Inc is the holding company for Territorial Savings Bank, which provides various financial services. The bank offers personal and business banking products, including savings accounts, mortgage loans, and commercial lending.

5. Telephone and Data Systems Inc (TDS) - Dividend Cut: -78.4%, Yield: 0.83%, YTD Stock Performance: 5.95%, Latest Stock Price: $19.17

Telephone and Data Systems Inc is a telecommunications company that provides wireless, wireline, and broadband services through its subsidiaries. The company operates under the U.S. Cellular brand and TDS Telecom.

6. Big 5 Sporting Goods Corp (BGFV) - Dividend Cut: -60.0%, Yield: 6.54%, YTD Stock Performance: -50.76%, Latest Stock Price: $3.04

Big 5 Sporting Goods Corp is a retailer of sporting goods and accessories. The company operates stores across the Western United States, offering a wide range of products, including athletic shoes, apparel, and equipment for various sports and outdoor activities.

7. 3M Co (MMM) - Dividend Cut: -53.3%, Yield: 2.79%, YTD Stock Performance: 12.57%, Latest Stock Price: $100.53

3M Co is a diversified technology company with a wide range of products and services. Its offerings span across various sectors, including industrial, safety, consumer, health care, and transportation. The company is known for its innovation in materials and manufacturing processes.

8. International Flavors & Fragrances Inc (IFF) - Dividend Cut: -50.6%, Yield: 1.69%, YTD Stock Performance: 17.64%, Latest Stock Price: $94.80

International Flavors & Fragrances Inc creates and manufactures flavors and fragrances for the food, beverage, personal care, and household products industries. The company focuses on providing innovative solutions to enhance the sensory experience of consumer products.

9. B. Riley Financial (RILY) - Dividend Cut: -50.0%, Yield: 9.71%, YTD Stock Performance: -6.36%, Latest Stock Price: $18.93

B. Riley Financial provides a range of financial services, including investment banking, asset management, and financial advisory. The company offers solutions to corporate, institutional, and high net worth clients.

10. Walgreens Boots Alliance Inc (WBA) - Dividend Cut: -47.9%, Yield: 6.43%, YTD Stock Performance: -40.49%, Latest Stock Price: $15.15

Walgreens Boots Alliance Inc is a global pharmacy-led health and wellness company. The company operates retail pharmacy chains and provides health and wellness services. Walgreens Boots Alliance also has a presence in pharmaceutical manufacturing and distribution.

One company has suspended its dividend in 2024: Hurco Companies. In a rather surprising move Industrial technology company Hurco (HURC) has announced that it will stop its dividend payments. In a press release dated June 14, 2024 Hurco explains the dividend supension.

These companies have experienced significant changes in their dividend payouts this year, reflecting various strategic, operational, and market challenges. Stay informed about such trends to better understand the evolving landscape of dividend investments.

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