Weight Watchers (WTW)
Trimming off the pounds is what Weight Watchers (WTW) products are designed to do. But in October, WTW cut the fat on its income stream, suspending its payment and citing the struggle to recruit new members as the reason for the dividend diet.
WTW stock plunged more than 20% in one session on the news — the biggest drop since the company went public in November 2001.
Weight Watchers hopes to use the estimated $39 million they will save on dividend payments to fund growth initiatives, and while I wish the company success, I recommend investors dump the diet plan and gorge on these 5 Sure-Fire Dividend Stocks to Buy instead.