Covid-19 impact on dividends

May 27, 2020

Payments are being disrupted at an
unprecedented level

We’ve been reporting on the COVID-19 impact on dividends for about 10 weeks (since mid-March). Over 1000 dividends have been impacted globally since the widespread outbreak of Covid-19 with the majority cancelled or cut to zero.

The extent of dividend cancellations is beyond anything in recent history:

278 declared dividends have been cancelled (“rescinded”)
282 cut to zero (the company has announced they will not be paying a dividend)
265 suspended (where we had forecast a payment and we’re now forecasting no dividend either due to regulatory mandate or due to a condition of financing)
104 deferred (payment delayed)
87 reduced (i.e. the company has revised down their declared amount)

These numbers do not include the many companies now paying lower dividends than their pre-Covid level.

The impact of this massive global financial shock has yet to fully ripple through the economy, with the repercussions of billions in anticipated payments vanishing yet to be fully sustained.

We're publishing all the cancelled, cut, suspended, deferred and reduced dividends are published on our website: Woodseer Cancelled Dividends Report

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