Dividend Market Briefing, August 23, 2026 Dividend increases and cuts EnerSys raised its dividend 10% to $0.2875 per share, payable October 2. Exchange Income Corporation confirmed its August payout at the recently increased rate. Canadian Natural Resources continues its 26-year increase streak. Johnson & Johnson's board approved a 3.1% hike to $1.34 quarterly, its 64th consecutive year of growth, with shares up 27.2% year to date. Dividend Aristocrats overall are growing payouts at an average 4.10% pace this year, with recent bumps from Albemarle, Fastenal, PPG, J.M. Smucker, and Stanley Black & Decker. On the cut side, Papa Johns suspended its dividend entirely and slashed its 2026 outlook after North America same-store sales fell 8.3% in Q2. UWM Holdings (United Wholesale Mortgage) also suspended its quarterly dividend following June 30 results. Intel suspended its dividend earlier this month (August 1). BCB Bancorp suspended its dividend reinvestment plan effective August 6. Note: some sources flagged a possible Medical Properties Trust dividend cut this week, but the most recent reporting indicates MPW actually maintained its $0.09 quarterly payout alongside Q2 results, so that one looks like a data conflict worth double-checking before relying on it. Notable moves Dividend Aristocrats (tracked via NOBL) are up 12.9% year to date through late July, well ahead of the S&P 500's 7.88% gain, reflecting a rotation from tech into value and income names. SCHD is up roughly 27-29% YTD and VYM around 15-17%, both also beating the S&P 500's 13.31% return, with SCHD's quality screen driving the outperformance over VYM's simpler high-yield approach. Coca-Cola is up 27.15% YTD to $87.71. SCHD currently yields about 3.3% versus VYM's 2.2%. Market context The Fed held its target rate at 3.50%-3.75% at its July meeting, and market expectations have shifted from anticipated cuts toward the possibility of hikes later this year given inflation still running above target. That's a mixed backdrop for yield-heavy sectors: REITs benefit if rates eventually ease (average REIT debt cost sits near historic lows around 4.1%), while utilities are drawing investor interest less from rate moves and more from rising electricity demand tied to data centers and EVs.

Dividend increases/cuts: Ares Capital (ARCC) declared its Q3 2026 dividend at $0.48/share, holding steady with the prior quarter. On the cut side, Bridgemarq Real Estate Services (TSX: BRE) announced a new capital allocation framework on July 16 that slashes its payout roughly 96%, moving from a monthly $0.1125/share to a quarterly rate equating to just $0.05 annualized. Shares fell over 50% in reaction. Southern Company (SO) looks on track to become the newest S&P Dividend Aristocrat with its 25th consecutive annual raise in 2026. Notable moves: PepsiCo (PEP) is up about 1.7% today; it raised its dividend 4% earlier this year, extending a 54 year growth streak, and now yields around 4.3%. Hasbro (HAS) is up over 5%, yielding 3.2%. On the ETF side, dividend focused funds are having a strong year: SCHD is up about 19% year to date versus VYM's 11%, and the broader SPDR S&P Dividend ETF (SDY), tracking 20+ year dividend growers, is up 12.6% YTD, notably outpacing tech-heavy software funds (down over 11%). Verizon (VZ) continues to stand out with a roughly 6.5% yield after raising its quarterly payout to $0.7075/share. Market context: The Fed held rates steady at 3.50 to 3.75% today, the fifth straight hold, in new Chair Kevin Warsh's first meeting leading the FOMC. Markets had priced in a 25 to 30% chance of a hike, so the hold removes some near-term pressure on rate-sensitive, yield-heavy sectors like REITs and utilities, though both remain structurally sensitive to the path of rates given their leverage and dividend-driven valuations. Undervalued names flagged today: Healthpeak (REIT) is cited as trading about 40% below fair value with a yield above 7%. Verizon is flagged as roughly 25% undervalued at its current yield. Preferred Bank also came up as a potential value name among dividend payers. This is factual market information only, not a recommendation to buy or sell. Sources: - Ares Capital Q3 2026 dividend - Bridgemarq dividend cut - Dividend Aristocrats outrunning software in 2026 - 2 High-Yield Dividend Stocks to Buy Now (Motley Fool) - SCHD vs VYM 2026 performance - Fed holds rates steady, Warsh's first meeting (CNN) - Undervalued dividend stocks July 2026 (Morningstar)

Dividend increases/cuts: Regions Financial (RF) raised its quarterly dividend 13% to $0.30/share alongside a Q2 earnings beat reported this week, part of a strong showing from regional banks (Simply Wall St, Investing.com). Jefferies also turned bullish on four dividend-paying money-center banks after big Q2 results this week (24/7 Wall St.). No major dividend cuts or suspensions from prominent dividend payers surfaced in the last 24 hours; the notable suspension this month was a smaller name, BCB Bancorp, pausing its dividend reinvestment plan effective August 6 (SEC 8-K). Notable moves: Barclays is up 45% over the past year with analysts still projecting further upside and a roughly 3% dividend yield (ts2.tech). On the broad market, the Dow fell about 0.6% Tuesday on weakness in industrials and financials even as tech held up, while futures point to a stronger open today led by tech/semis (Investrade morning preview). Among dividend ETFs, SCHD continues to outperform VYM year-to-date (roughly 20.7% vs 13.4%), with a higher yield (about 3.2% vs 2.3%) (TipRanks). Verizon remains a standout high-yield telecom (yield above 6% after its dividend raise to $0.7075/share earlier this year), even after being dropped from the Dow in favor of Alphabet (24/7 Wall St.).

There are so many reasons to avoid annuities. The fees, the lack of transparency, holding your money hopstage, and the crappy payout are just a few. When you compare off of this to a healthy dividend fund? There's no comparison. Would you rather own your assets or hand them to an insurance company?