In this horrible market, dividends have been one of the few saviors for investors. But the latest trend of big-name companies slashing their dividend is concerning. Sadly, this trend will likely grow.
Today it was Dow Chemical (NYSE: DOW), Harley-Davidson, Inc. (NYSE: HOG) and Masco (NYSE: MAS) cutting their dividends. The cuts were likely much anticipated by the market, with dividend yields of 16%, 10% and 12% before the cuts. What is concerning though is that some of these companies were out defending their dividends not too long ago.
