5 Biggest Dividend Cuts and Suspensions of 2023

4. Newell Brands Inc. (NASDAQ:NWL)

Number of Hedge Fund Holders: 31

Newell Brands Inc. (NASDAQ:NWL) is a consumer goods company that designs, manufactures, and markets a wide range of products for consumers and commercial customers. In May this year, the company announced that it would cut its dividend by 70% to $0.07 per share. The stock has a dividend yield of 3.95%, as of October 10.

The number of hedge funds in Insider Monkey’s database owning stakes in Newell Brands Inc. (NASDAQ:NWL) jumped to 31 in Q2 2023, from 21 in the previous quarter. The consolidated value of these stakes is over $830 million. With over 52.4 million shares, Pzena Investment Management was the company’s leading stakeholder in Q2.

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