Goldcorp dividend cut

Goldcorp Cuts Their Dividend 67% And Alters Payment Schedule

Dividend Raises

On February 25th, Goldcorp Inc cut their annual dividend by 66.67% from $0.24 USD to $0.08 USD, and changed the payment schedule from monthly to quarterly. They also announced the development of a Dividend Reinvestment Plan (“DRIP”) for the stock, which would allow investors to reinvest their distributions without commission fees and at a 3% discount to market price at the time of payment. Due to the dividend cut and their Q4 2015 earnings release and updated 2016 guidance, shares of Goldcorp tumbled -13.05% the trading day following the announcements.


Goldcorp logo


Considering the Dividend Beginner Portfolio holds 65 shares of Goldcorp Inc., my annual dividend income from G has dropped from $15.60 USD to $5.2 USD. The dividend reduction has decreased my 12-month forward dividend income from $1,441.50 to $1,431.10, a decrease of 0.72%. I do not take currency exchange rates into consideration in my annual dividend income calculations. 

Before G div. cut Net Increase After G div.cut
Annual Dividend Income $1,441.50 -$10.40 $1,431.10
Monthly Dividend Income $120.13 -$0.87 $119.26
Percentage Increase -0.72%

Dividend Beginner

A 22 year old Canadian dividend growth investor striving for early financial independence; building as many passive income streams as early as possible.
Recent Purchase: National Bank of Canada (NA)
Recent Sell: Goldcorp Inc. (G)

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My publishings on references an opinion and is for information or entertainment purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. I am not responsible for any decisions you make concerning finances, taxes, or investments. You must perform your own research and always take caution when extending capital.