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5 Dividend Disappointments So Far in 2013

Exelon, Cliffs and others made significant cuts to their payouts

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exelon185Dividend Change: -41%

Midwest energy provider Exelon (EXC) also cut its dividend back in February, from 52.5 cents per share per quarter to 31 cents with a clear desire to save money.

While EXC certainly accomplished the near-term task, the long-term picture is still very muddy. Exelon was downgraded by Deutsche Bank in May — including a $34 price target which it since has aggressively broken below — and its most recent financial results included gross margins that not only got a lot uglier year-over-year, but rank as the industry’s worst.

Meanwhile, EXC stock — which actually improved by almost 20% at its 2013 peak in late April — is now back at roughly flat since the dividend-cut announcement and is underperforming the broader market at just +4% year-to-date.

Article printed from InvestorPlace Media,

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