It has been a very good year for the equity markets, and dividend stocks have been no exception.
Although the year-to-date performance of the S&P 500 Index at nearly 25% has surpassed the year-to-date performance of the benchmark dividend ETF, the iShares Select Dividend Index (DVY, +21.8%), many stalwart dividend plays have been putting smiles on income-oriented investors’ faces.
Unfortunately, this story isn’t about smiling faces.
This is about the dark side of the dividend story — particularly companies that laid a serious egg in 2013. By laying an egg, I mean these dividend stocks either suspended or severely slashed their payouts this year. That means if you bought these companies thinking you’d get income, sorry … you’re out of luck.
Here are five (and then some) dividend stocks that turned into big disappointments in 2013.