5 Biggest Dividend Cuts and Suspensions of 2023

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In this article, we discuss 5 biggest dividend cuts and suspensions of 2023. If you want to read our detailed analysis of dividend stocks and their performance this year, go directly to read 12 Biggest Dividend Cuts and Suspensions of 2023

5. Algonquin Power & Utilities Corp. (NYSE:AQN)

Number of Hedge Fund Holders: 29

Algonquin Power & Utilities Corp. (NYSE:AQN) is a diversified North American utility company that operates in the utility and renewable energy sectors. In March this year, the company slashed its dividend by 40% to $0.1085 per share. In addition to this, the company also suspended its dividend reinvestment plan. The stock has a dividend yield of 7.23%, as of October 11.

The number of hedge funds holding stakes in Algonquin Power & Utilities Corp. (NYSE:AQN) grew to 29 in Q2 2023, from 27 in the previous quarter. The total value of these stakes is over $524.6 million. With over 34 million shares, Starboard Value LP was the company’s leading stakeholder in Q2.

Follow Algonquin Power & Utilities Corp. (NYSE:AQN)

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