Intel is cutting its dividend. In a treacherous environment for the economy and profits, more companies could do the same. On Wednesday, Intel (ticker: INTC) cut its dividend by 66% to an annual 50 cents a share, helping push the stock down about 16% in the past month.4 days ago The Barrons
I do not subscribe to The Barrons so no link. This news is probably elsewhere.
I have been expecting this. I did not realize Intel would be the first. The company wont be the last. This is why the market wont go up this year significantly and will often fall back to earth.
The dividend cut was mostly expected in my opinion. Intel is going to be using the cash for growth opportunities and should eventually take back market share. As is already being started with new partnerships with Nvidia working with Intel instead of the AMD competitor.