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Endangered Dividends

Dividend Cuts: Good News and Bad news

By Roger S. Conrad on Sep. 9, 2018
First the good news: Four companies earned an exit from the Endangered Dividends List this month without cutting payouts. CenturyLink (NYSE: CTL) is off after a stock and bond rally following turnaround second quarter results. That eases cost of capital pressures on the dividend and merits a boost in our buy target.

Merging to Cut Distributions

By Roger S. Conrad on Aug. 11, 2018
Enbridge Inc (TSX: ENB, NYSE: ENB) management isn’t budging from take under offers for its US MLP affiliates Enbridge Energy Partners (NYSE: EEP) and Spectra Energy Partners (NYSE: SEP). That boosts the odds the proposed stock-for-stock exchange ratio will hold, along with distribution cuts of 40 percent for Enbridge and 10 percent for Spectra.

SCANA Cuts, Who’s Next?

By Roger S. Conrad on Jul. 3, 2018
SCANA Corp (NYSE: SCG) will cut its quarterly dividend to 12.37 cents a share starting with the July 18 payment. The -79.8 percent reduction is in response to the South Carolina state legislature, which last week passed a bill reducing the 18 percent rate hike to pay for the cancelled Summer nuclear plant to 3.2 percent.

Enbridge Eats Its Young

By Roger S. Conrad on Jun. 11, 2018
Enbridge Inc (TSX: ENB, NYSE: ENB) is buying the remaining common units of the two US MLPs it controls: Enbridge Energy Partners (NYSE: EEP) and Spectra Energy Partners (NYSE: SEP). It’s a good deal for the acquirer, which is buying these assets for barely 7 times cash flow. Absorbing the regulated natural gas and oil pipelines should dodge a possible Federal Energy Regulatory Commission-mandated rate cut. And management has affirmed three-year earnings guidance while promising faster growth after 2020.

Moving Closer to the Edge

By Roger S. Conrad on May. 6, 2018

SCANA Corp (NYSE: SCG) won’t declare its June dividend until “closer to record date”. That’s the closest Conrad’s Utility Investor coverage universe companies have come to a payout cut this earnings season. But several are definitely on the edge.

Earnings Season: There Will Be Blood

By Roger S. Conrad on Apr. 13, 2018
Earnings season is the time when companies share their quarterly results, good and bad. It’s also an opportunity for management teams to reset their strategy and guidance, including the dividend policy.

Danger: Falling Dividends

By Roger S. Conrad on Mar. 5, 2018
Two names on our Endangered Dividends List cut their payouts.

Earnings Season Likely Brings More Dividend Cuts

By Roger S. Conrad on Feb. 4, 2018
Earnings season is the time when management teams usually update guidance and announce dividend policies.

California Cuttin’ On Such a Winter’s Day

By Roger S. Conrad on Jan. 8, 2018
PG&E Corp (NYSE: PCG) suspended its dividend indefinitely because of uncertainty about the cause of the devastating wildfires that ravaged California last year—and the utility’s potential liability.

Falling Dividends and Failing Companies

By Roger S. Conrad on Dec. 10, 2017
What’s worse for a company’s shareholders than a dividend cut? Well, two names on our Endangered Dividends List face the very real threat of insolvency.

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ABOUT ROGER CONRAD

Roger S. Conrad needs no introduction to individual and professional investors, many of whom have profited from his decades of experience uncovering the best dividend-paying stocks for accumulating sustainable wealth. Roger b