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23 Companies Disappointing Dividend Investors in Q3

SuperValu, Annaly Capital, ARMOUR top dubious list of downers

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Pass-Through Securities

Investment management partnership AllianceBernstein Holding LP (NYSE:AB) reduced its annual dividend payout during Q3 from $1.04 per share to 84 cents. The new dividend yield, based on the Aug. 8 closing price of $12.29 (the day the dividend was reduced), was 6.83%.

Investment security REIT Annaly Capital (NYSE:NLY) cut its annual dividend payout from $2.20 to $2. The new dividend yield, based on the Sept. 20 closing price of $17.39, was 11.5%.

ARMOUR Residential REIT (NYSE:ARR) moved to slash its annual dividend payout from $1.20 to $1.08. The new dividend yield, based on the Sept. 17 closing price of $7.48, was 14.44%.

Assisted Living Concepts (NYSE:ALC) operates senior living facilities in 20 states, but that wasn’t enough to keep ALC from suspending its third-quarter dividend. The move to withhold the payout was announced on Aug. 6.

Cross Timbers Royalty Trust Units (NYSE:CRT) cut down its annual dividend payout from $2.22 to $1.69. The new dividend yield, based on the Sept. 19 closing price of $32.33, was 5.23%.

Dominion Resources Black Warrior Trust (NYSE:DOM) holds an interest in natural gas and coal operations in the Pottsville coal formation in Alabama. Those operations failed to fire, and the result was a reduction in the annual dividend payout from 52 cents per share to 38 cents. The new dividend yield, based on the Aug. 20 closing price of $6.58, was 5.78%.

Mining trust Dorchester Minerals, LP (NASDAQ:DMLP) lowered its annual dividend payout from $2.17 to $1.83. The new dividend yield, based on the July 13 closing price of $22.16, was 8.26%.

Hugoton Royalty Trust (NYSE:HGT) owns energy profits of approximately 80% on natural gas holdings in XTO Energy. Those holdings were a disappointment last quarter, and as such HGT cut its annual dividend payout from 16 cents per share to 7 cents. The new dividend yield, based on the Sept. 19 closing price of $6.65, was 1.05%.

Mortgage REIT Invesco Mortgage Capital (NYSE:IVR) has reduced its annual dividend payout from $2.60 to $1.92. The new dividend yield, based on the July 30 closing price of $19.85, was 9.67%.

KnightsBridge Tankers (NASDAQ:VLCCF) is a shipping company that specializes in oil tankers and dry bulk containers, but this quarter the company failed to ship a full load of dividends to shareholders. KnightsBridge lowered its annual dividend payout from $1.40 to 70 cents. The new dividend yield, based on the Aug. 15 closing price of $7.75, was 9.03%.

Oil and natural gas holding company Permian Basin Royalty Trust (NYSE:PBT) has turned down the spigot on its fiscal hose, cutting its annual dividend payout from $1.05 per share to 89 cents. The new dividend yield, based on the July 23 closing price of $18.52, was 4.81%.

Mining and oil and gas concern Sabine Royalty Trust (NYSE:SBR) trimmed its annual dividend payout from $4.48 to $4.05. The new dividend yield, based on the Aug. 7 closing price of $54.44, was 7.44%.

Oil and gas exploration holding firm SandRidge Mississippian Trust (NYSE:SDT) failed to find enough revenue to keep pumping reduced its annual dividend payout from $3.15 to $2.91. The new dividend yield, based on the July 27 closing price of $27.09, was 10.74%.

SandRidge Permian Trust (NYSE:PER) is another oil and gas trust forced to trim its annual dividend payout from $2.33 to $2.30. The new dividend yield, based on the July 27 closing price of $20.57, was 11.18%.

Natural gas operation San Juan Basin Royalty Trust (NYSE:SJT) turned down its annual dividend payout, cutting its dividend from 85 cents per share to 63 cents. The new dividend yield, based on the July 23 closing price of $16.74, was 3.76%.

Office, medical facility and multifamily REIT Washington Real Estate Trust (NYSE:WRE) lowered its annual dividend payout from $1.76 to $1.20. The new dividend yield, based on the July 26 closing price of $27.69, was 4.33%.

As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/2012/09/23-companies-disappointing-dividend-investors-in-q3/.

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