Most investors buy dividend stocks for the consistent income they generate. Whether we're talking about Achievers, Aristocrats or Kings, or just plain ol' dividend payers, their income provides certainty in an uncertain world.
That is, of course, until the dividend cuts and suspensions start rolling in.
The global COVID-19 coronavirus pandemic has thrown a wrench into corporate dividend programs as companies of all sizes scramble to raise cash and fortify their finances. As the coronavirus has gained momentum here in the U.S., dividend investors have become concerned about the sustainability of their regular income payments - and rightly so.
Inevitably, just like the Great Recession of 2008, companies one by one have begun suspending or cutting their dividends as part of their plan to fight the negative effects of this pandemic on their businesses.
Here are 15 dividend stocks that have recently announced dividend cuts or suspensions, and what they plan to do to keep operations running until they get through to the other side. As you'll soon see, some industries have been more swiftly and severely impacted than others.SEE ALSO: 25 Dividend Stocks the Analysts Love the Most