Another dividend bites the dust – BBL

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.

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6 thoughts on “Another dividend bites the dust – BBL

  1. I hear you. The 75% cuts from KMI and BBL hurt me as well. I wish I could say that I held on to them, but the truth is that I recently sold nearly all my positions in those two companies. It didn’t really have to do with the dividend cut (I don’t immediately sell after a cut as some people do), but rather I found other stocks that I think will have better growth prospects. I will, however, be getting back into both as soon as I can. The worst part of the sale of KMI was that it was in my Roth so I can’t even benefit from the capital loss!

    Scott

    • Hi Scott,
      Thanks for the update. I am kinda in the same position. My KMI position is in an IRA. Therefore, I don’t want to sell with a huge capital loss. I do hope that both these stocks have hit a bottom with the dividend cut already priced in and maybe the stock will stabilize from here on. Let’s see.
      Thanks for stopping by
      DGJ

  2. Sucks to get caught in the receding tide.

    BBL is already approaching re-entry level. Down to the $20 range in after-hours today. Another $5 drop and the new DVND will be approaching a decent yield again (3%+), with the moon and the sytarts the limit when this correction period is over.

    BHP (BBL) will be a fantastic position to ramp up quickly once things stabilize, esp. China.

    I’m glad they cut the rate. Now instead of bleeding cash when there is little to spare in order to pay onerous 11% dividends, they’ll be able avoid taking on huge debt and will be able to come back gangbusters when the smoke clears.

    I LOVE the stock right now; blood in the water. Another $5 drop and I’m in.

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