5 Worst Performing Dividend Stocks YTD

4. Dollar General Corporation (NYSE:DG)

Year-to-Date Share Price Drop as of September 13: 49.2%

A chain of discount variety stores, Dollar General Corporation (NYSE:DG) is next on our list of the worst performing dividend stocks this year. The company’s shares tumbled as it lowered its sales and profit outlook for the year due to challenges like reduced consumer spending on non-essential items and rising theft issues.

Dollar General Corporation (NYSE:DG) holds a five-year streak of consistent dividend growth and currently pays a quarterly dividend of $0.59 per share. The stock’s dividend yield on September 13 came in at 1.97%.

As of the close of Q2 2023, 57 hedge funds in Insider Monkey’s database reported having stakes in Dollar General Corporation (NYSE:DG), up from 53 in the previous quarter. The consolidated value of these stakes is over $1.62 billion.

Aristotle Atlantic Partners mentioned Dollar General Corporation (NYSE:DG) in its Q2 2023 investor letter. Here is what the firm has to say:

“We sold our position in Dollar General, following a weaker-than-expected quarterly earnings report and a lowered earnings outlook. The company’s core consumer, while still employed, continues to be impacted by higher inflation. Additionally, we saw the negative impacts of lower-than-expected tax refunds and reductions in the Federal Supplemental Nutrition Assistance Program (SNAP). Dollar General remained committed to spending on customer experience and investing in price to help their customers through the tougher economic environment, as a result, reducing the earnings guidance by a greater amount than the sales reductions.”