BBL just announced their dividend cut. Like I mentioned earlier, this was expected and with the volatility in the entire energy/commodities sector. This dividend cut follows KMI and COP since December. BBL announced a 75% dividend cut (from semi-annual dividend of $1.24/share to $0.32/share). I own 52.2051 shares in BBL and this reduces my projected annual dividends by $96.05.
My projected annual dividends has dropped close to $300 from the three dividend cuts. The goal for the year is already in jeopardy.
I hold so many stocks in this sector – CVX, BP, NOV and XOM. 3 down and 4 more to go 😦
My new projected annual dividends stands at $3,206.05 now. I am obviously going backwards towards this goal.