Here are key updates for dividend investors

Article Excerpt

NEWELL BRANDS INC. $8.71 remains a hold. The company (Nasdaq symbol NWL; Conservative-Growth Payer Portfolio, Manufacturing & Industry sector; Shares outstanding: 414.1 million; Market cap: $3.6 billion; Dividend yield: 3.2%; Dividend Sustainability Rating: Average; makes a wide range of consumer and household products such as PaperMate pens, Elmer’s glue, Rubbermaid food containers, Graco baby strollers, Coleman camping gear and Oster kitchen appliances. With the June 2023 payment, Newell will cut its quarterly dividend by 69.6%, to $0.07 a share from $0.23. The new annual rate of $0.28 still yields a solid 3.2%. The lower dividend will save Newell roughly $265 million annually. That will help it cover the costs of its new restructuring plan. That includes streamlining its brands and supply chains, and cutting 13% of its office-based workers. In all, Newell expects the plan will cost $100 million to $130 million. However, it should produce annual savings of $220 million to $250 million starting in 2024. Newell is a hold. ROYAL BANK OF CANADA $124 is a..