Data · Safety Score Track Record · rolling
Dividend Safety Score: Track Record
Preliminary · Period 2026-04-01 to 2026-11-09 · Generated November 9, 2026 · updates daily until the period closes
Abstract
Since 2026-04-01, 24 listed companies with a dividend safety score have cut a regular dividend.
19 of them (79%) were graded C or lower before the cut; 1 (4%) was graded A.
Measured against the current grade distribution, names graded C or lower cut at 5.5 times the rate of names graded A or B.
Key figures
- Scored cuts observed
- 24
- Graded C or lower beforehand
- 79%
- Graded A beforehand
- 4%
- Cut rate, C-or-lower vs A-or-B
- 5.5×
Commentary
D-grade names were the clearest concentration of dividend reductions: 11 cuts came from 240 payers, a 4.58% cut rate. C-grade names had 7 cuts and a 0.81% rate, showing that the concentration became much sharper at D.
The thin F group produced 1 cut among 5 payers, yielding 20.00%, so its high rate reflects a very small group. B recorded 4 cuts among 679 payers. No increase count appears, so the figures do not establish the balance between increases and cuts.
The deepest named changes were concentrated in Basic Materials and several other sectors. MSB in Basic Materials recorded -79.2%, followed by UAN in Basic Materials at -70.6% and TU in Communication Services at -54.7%. WEN in Consumer Cyclical and CAG in Consumer Defensive each recorded -50.0%. Real Estate included BXMT and CHCT, while Financial Services included FDUS and IFN.
SmarterDividends Team · written from the figures in this note · November 9, 2026
1.Cuts by safety grade held before the cut
| Grade | Cuts | Payers holding grade | Cut rate |
|---|---|---|---|
| A | 1 | 934 | 0.11% |
| B | 4 | 679 | 0.59% |
| C | 7 | 862 | 0.81% |
| D | 11 | 240 | 4.58% |
| F | 1 | 5 | 20.00% |
Cut rate divides cuts since tracking began by the number of payers currently holding the grade; it is an approximation until a full year of history accrues.
2.Every scored cut, most recent first
| Ex-date | Ticker | Company | Sector | Before | After | Change | Score before | Grade before |
|---|---|---|---|---|---|---|---|---|
| 2026-12-31 | BXMT | Blackstone Mortgage Trust, Inc. | Real Estate | $0.4700 | $0.3000 | -36.2% | 39 | D |
| 2026-11-16 | UAN | CVR Partners, LP | Basic Materials | $6.0800 | $1.7900 | -70.6% | 46 | D |
| 2026-11-12 | VNOM | Viper Energy, Inc. | Energy | $0.6700 | $0.5000 | -25.4% | 51 | C |
| 2026-10-01 | CPB | The Campbell's Company | Consumer Defensive | $0.3900 | $0.2500 | -35.9% | 76 | B |
| 2026-09-15 | FDUS | Fidus Investment Corporation | Financial Services | $0.6200 | $0.5000 | -19.4% | 47 | D |
| 2026-09-10 | TU | TELUS Corporation | Communication Services | $0.3000 | $0.1360 | -54.7% | 67 | B |
| 2026-09-01 | WEN | The Wendy's Company | Consumer Cyclical | $0.1400 | $0.0700 | -50.0% | 51 | C |
| 2026-08-24 | IFN | Aberdeen India Fund, Inc. | Financial Services | $0.3900 | $0.3700 | -5.1% | 55 | C |
| 2026-08-19 | CHCT | Community Healthcare Trust Incorporated | Real Estate | $0.4800 | $0.3300 | -31.3% | 67 | B |
| 2026-07-30 | MSB | Mesabi Trust | Basic Materials | $0.2400 | $0.0500 | -79.2% | 53 | C |
| 2026-07-30 | CAG | Conagra Brands, Inc. | Consumer Defensive | $0.3500 | $0.1750 | -50.0% | 78 | B |
| 2026-07-02 | CIG | Companhia Energética de Minas Gerais - CEMIG | Utilities | $0.0480 | $0.0430 | -10.4% | 54 | C |
| 2026-06-30 | CGBD | Carlyle Secured Lending, Inc. | Financial Services | $0.4000 | $0.3500 | -12.5% | 43 | D |
| 2026-06-30 | BGS | B&G Foods, Inc. | Consumer Defensive | $0.1900 | $0.0950 | -50.0% | 52 | C |
| 2026-06-30 | KREF | KKR Real Estate Finance Trust Inc. | Real Estate | $0.2500 | $0.1000 | -60.0% | 44 | D |
| 2026-06-17 | FSK | FS KKR Capital Corp. | Financial Services | $0.4800 | $0.4200 | -12.5% | 31 | F |
| 2026-06-16 | NMFC | New Mountain Finance Corporation | Financial Services | $0.3200 | $0.2500 | -21.9% | 37 | D |
| 2026-06-15 | OCSL | Oaktree Specialty Lending Corporation | Financial Services | $0.4000 | $0.3400 | -15.0% | 45 | D |
| 2026-06-12 | SLRC | SLR Investment Corp. | Financial Services | $0.4100 | $0.3100 | -24.4% | 48 | D |
| 2026-06-12 | FLO | Flowers Foods, Inc. | Consumer Defensive | $0.2480 | $0.1250 | -49.6% | 80 | A |
| 2026-05-29 | CCAP | Crescent Capital BDC, Inc. | Financial Services | $0.4200 | $0.0300 | -92.9% | 42 | D |
| 2026-05-22 | ABR | Arbor Realty Trust, Inc. | Real Estate | $0.3000 | $0.1700 | -43.3% | 36 | D |
| 2026-05-15 | EMBJ | Embraer S.A. | Industrials | $0.0490 | $0.0090 | -81.6% | 51 | C |
| 2026-05-04 | DMLP | Dorchester Minerals, L.P. | Energy | $0.7560 | $0.4750 | -37.2% | 44 | D |
Method and definitions
- The safety score is computed from payout coverage, free cash flow, balance sheet strength, growth history and yield versus history, and graded A (80–100), B (66–79), C (50–65), D (36–49), F (0–35). The score recorded at the time a cut was detected is used, not the current score.
- This page updates daily. It reports the model's record; it is not a recommendation.
Cite this note
SmarterDividends (2026). Dividend Safety Score: Track Record. https://smarterdividends.com/data/safety-track-record
Free to quote and reproduce with attribution and a link to this page.
For informational purposes only; not investment advice.