Wall Street Week Ahead: Spotlight falls on 'dividend aristocrats' after market tumult

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Companies across a range of industries are slashing or suspending dividends to cope with the economic fallout from the coronavirus outbreak, ...

Companies across a range of industries are slashing or suspending dividends to cope with the economic fallout from the coronavirus outbreak, complicating the stock selection process for money managers eager to buttress their portfolios with a steady stream of income.

That's bad news for yield-thirsty investors at a time when payouts on U.S Treasuries stand near historic lows as the Federal Reserve keeps interest rates in check to stimulate the economy. The S&P 500's dividend yield recently exceeded the yield on the benchmark 10-year U.S. Treasury by its highest margin in nearly five decades.

Norway's Equinor said on Thursday it was cutting its quarterly dividend by two-thirds as part of an effort to preserve cash, while oil services firm Schlumberger NV earlier this month slashed its dividend by 75per cent. AbbVie , 3M Co and Aflac , which are in the dividend aristocrats index, are also due to report first-quarter results next week.

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