Data · Dividend Cuts · monthly
Dividend Cuts, September 2026
Final · Period 2026-09-01 to 2026-10-01 · Generated October 5, 2026
Abstract
4 listed dividend payers reduced a regular dividend in September 2026, against 94 increases (23.5 increases per cut).
The median cut was 41.7%; the largest was TU at 54.7%.
3 of the 4 scored cutters (75%) carried a dividend safety grade of C or lower before the cut.
2 cuts came from companies above $10B in market value: TU, NTES.
Key figures
- Dividend cuts
- 4
- Increases in the same period
- 94
- Increases per cut
- 23.5
- Median cut
- 41.7%
- Cutters graded C or lower beforehand
- 75%
- 3 of 4 scored
Commentary
Dividend increases outnumbered cuts by 80 to 4 in September, a ratio of 20.0 increases per cut. Communication Services accounted for two reductions, while Consumer Cyclical and Financial Services recorded one apiece. The cuts therefore clustered more by sector than the overall count alone suggests.
The 41.7% median cut reflected two reductions of at least half. TU lowered its dividend from $0.3000 to $0.1360, a 54.7% cut, while WEN reduced its payment by 50.0%. TU carried a B grade beforehand, the only cutter with a grade above C.
NTES cut its dividend by 33.3%, while FDUS had the smallest reduction at 19.4%. WEN and NTES entered their cuts with C grades, and FDUS carried a D. Market values ranged from $762M for FDUS to $73.9B for NTES, with TU also above the stated threshold at $13.4B.
SmarterDividends Team · written from the figures in this note · September 27, 2026
1.All cuts, largest first
| Ex-date | Ticker | Company | Sector | Before | After | Change | Grade before | Market cap |
|---|---|---|---|---|---|---|---|---|
| 2026-09-10 | TU | TELUS Corporation | Communication Services | $0.3000 | $0.1360 | -54.7% | B | $12.7B |
| 2026-09-01 | WEN | The Wendy's Company | Consumer Cyclical | $0.1400 | $0.0700 | -50.0% | C | $1.2B |
| 2026-09-03 | NTES | NetEase, Inc. | Communication Services | $0.7200 | $0.4800 | -33.3% | C | $75.1B |
| 2026-09-15 | FDUS | Fidus Investment Corporation | Financial Services | $0.6200 | $0.5000 | -19.4% | D | $766M |
2.Cuts by sector
| Sector | Cuts | Median cut |
|---|---|---|
| Communication Services | 2 | 44.0% |
| Consumer Cyclical | 1 | 50.0% |
| Financial Services | 1 | 19.4% |
Method and definitions
- A cut is a regular payment at least 3% below the prior payment and at least 10% below the payment a year earlier, but not below 30% of it; near-total reductions are classified as variable payouts and excluded. Special dividends are excluded.
- Universe: U.S.-listed dividend payers tracked by SmarterDividends; OTC and ADR duplicate listings are excluded. Grade before the cut is the dividend safety grade recorded at detection.
- Period: 2026-09-01 to 2026-10-01 by ex-dividend date.
Cite this note
SmarterDividends (2026). Dividend Cuts, September 2026. https://smarterdividends.com/data/dividend-cuts/2026-09
Free to quote and reproduce with attribution and a link to this page.
For informational purposes only; not investment advice.