Data · Safety Score Track Record · rolling
Dividend Safety Score: Track Record
Preliminary · Period 2026-04-01 to 2026-10-12 · Generated October 12, 2026 · updates daily until the period closes
Abstract
Since 2026-04-01, 22 listed companies with a dividend safety score have cut a regular dividend.
17 of them (77%) were graded C or lower before the cut; 1 (5%) was graded A.
Measured against the current grade distribution, names graded C or lower cut at 5.2 times the rate of names graded A or B.
Key figures
- Scored cuts observed
- 22
- Graded C or lower beforehand
- 77%
- Graded A beforehand
- 5%
- Cut rate, C-or-lower vs A-or-B
- 5.2×
Commentary
Cut rates rose at every step from A through F. D recorded the most cuts, with a 3.93% rate, while A’s rate was 0.11%. F had the fewest payers and the highest cut rate at 14.29%. This progression separates the weaker grades more clearly than the aggregate cut count alone.
MSB made the deepest cut at 79.2%. KREF and TU followed with reductions of 60.0% and 54.7%, while WEN, CAG and BGS each halved their dividends. Consumer Defensive includes CPB alongside CAG and BGS. Communication Services includes TU and NTES, while Real Estate includes KREF and CHCT.
The period identifies 22 cuts but gives no total for increases, so the balance between increases and cuts cannot be quantified. The reductions also extend well below the largest moves: IFN cut 5.1% and CIG cut 10.4%. B was not immune, with CPB, TU, CHCT and CAG carrying that grade before their cuts.
SmarterDividends Team · written from the figures in this note · October 3, 2026
1.Cuts by safety grade held before the cut
| Grade | Cuts | Payers holding grade | Cut rate |
|---|---|---|---|
| A | 1 | 921 | 0.11% |
| B | 4 | 669 | 0.60% |
| C | 7 | 816 | 0.86% |
| D | 9 | 220 | 4.09% |
| F | 1 | 4 | 25.00% |
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 |
|---|---|---|---|---|---|---|---|---|
| 2026-10-01 | 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 |
| 2026-09-03 | NTES | NetEase, Inc. | Communication Services | $0.7200 | $0.4800 | -33.3% | 55 | C |
| 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 | CAG | Conagra Brands, Inc. | Consumer Defensive | $0.3500 | $0.1750 | -50.0% | 78 | B |
| 2026-07-30 | MSB | Mesabi Trust | Basic Materials | $0.2400 | $0.0500 | -79.2% | 53 | C |
| 2026-07-02 | CIG | Companhia Energética de Minas Gerais - CEMIG | Utilities | $0.0480 | $0.0430 | -10.4% | 54 | C |
| 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 |
| 2026-06-30 | CGBD | Carlyle Secured Lending, Inc. | Financial Services | $0.4000 | $0.3500 | -12.5% | 43 | 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.