In this article, we discuss 5 big companies that stopped paying dividends. If you want to read our detailed discussion on dividend stocks and their performance in the past, go directly to read 15 Big Companies that Stopped Paying Dividends.
5. Carnival Corporation & plc (NYSE:CCL)
Market Cap as of August 14: $21.9 billion
Carnival Corporation & plc (NYSE:CCL) is a multinational cruise company that operates a fleet of cruise ships and offers various vacation and travel experiences to passengers. The company announced the suspension of its dividends in June 2020 due to the economic crisis and the decline in its earnings and profits.
As of the close of Q1 2023, 25 hedge funds in Insider Monkey’s database owned stakes in Carnival Corporation & plc (NYSE:CCL), up from 20 in the previous quarter. These stakes hold a consolidated value of over $373.5 million. With over 11 million shares, Two Sigma Advisors was one of the company’s leading stakeholders in Q1.
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4. Royal Caribbean Cruises Ltd. (NYSE:RCL)
Market Cap as of August 14: $26.2 billion
Royal Caribbean Cruises Ltd. (NYSE:RCL) is next on our list of companies that stopped paying dividends. The global cruise company operates a fleet of cruise ships, offering vacation experiences to passengers across various destinations.
Royal Caribbean Cruises Ltd. (NYSE:RCL) suspended its dividend payments during the early days of the pandemic and has yet to reinstate its dividends.
Royal Caribbean Cruises Ltd. (NYSE:RCL) ended the quarter with 39 hedge funds owning stakes in it, up from 36 in the previous quarter, according to Insider Monkey’s database. These stakes have a total value of over $741.4 million.
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3. Aptiv PLC (NYSE:APTV)
Market Cap as of August 14: $26.7 billion
Aptiv PLC (NYSE:APTV) is a global tech company that specializes in providing advanced solutions for the automotive industry. The company’s earnings took a hit during the pandemic in 2020 and it announced to stop its dividends altogether. This was not the first time the company has ceased its payouts. Its dividends were cut back in 2012 and 2013 as well.
The number of hedge funds tracked by Insider Monkey owning stakes in Aptiv PLC (NYSE:APTV) stood at 46 in Q1 2023, growing from 41 in the previous quarter. These stakes are worth over $1.65 billion in total.
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2. The Boeing Company (NYSE:BA)
Market Cap as of August 14: $141.8 billion
An American multinational aircraft industry company, The Boeing Company (NYSE:BA) is one of the major companies that stopped paying dividends. The company suspended its dividends in 2020 to preserve cash because the travel industry suffered huge losses due to travel restrictions.
As of the close of Q1 2023, 52 hedge funds in Insider Monkey’s database owned investments in The Boeing Company (NYSE:BA), compared with 53 in the previous quarter. The total value of these stakes is roughly $2.2 billion.
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1. The Walt Disney Company (NYSE:DIS)
Market Cap as of August 14: $162.6 billion
The Walt Disney Company (NYSE:DIS) tops our list of companies that stopped paying dividends. The mass media company temporarily suspended its dividends in 2020 in order to conserve cash. However, the company has plans to reinstate its dividends by the end of this year.
At the end of Q1 2023, The Walt Disney Company (NYSE:DIS) was a part of 95 hedge fund portfolios, as per Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $3 billion.
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