3 High-Yielding Dividend Stocks That Could Cut Their Payouts This Year
A high-yielding dividend stock can be a great investment -- until it isn't. Just ask Walgreens Boots Alliance shareholders, who last month learned that the company was suspending its dividend. A year before, management slashed the payout. There were warning signs, such as poor earnings numbers, that suggested the payout wasn't safe despite the company's previous long track record for regularly increasing its dividend.
There are many other high-yielding stocks out there that may also cut their payouts this year. Three that you'll want to think twice about buying right now are Innovative Industrial Properties (NYSE: IIPR), Wendy's (NASDAQ: WEN), and BCE (NYSE: BCE).
Innovative Industrial Properties (IIP) is a real estate investment trust (REIT) that focuses on the cannabis industry. Its yield looks mouthwatering at nearly 11%. But if investors truly thought that payout was safe, you can be sure they would be buying up shares of the REIT. Instead, its shares have slumped by nearly 40% in the past six months.
Source Fool.com
