Dividend market briefing, July 30, 2026 Dividend increases/cuts Union Pacific raised its quarterly dividend 3% to $1.42 per share, payable September 30 to holders of record August 31. That marks 20 consecutive years of increases. Shell plc declared its Q2 2026 interim dividend at $0.3906 per ordinary share. On the downside, Shutterstock's board suspended the company's quarterly cash dividend entirely, citing capital allocation priorities like debt reduction; the stock fell nearly 9% in after hours trading following the news. UPS also flagged a concern for dividend growth investors: CFO Brian Dykes confirmed the company won't raise its dividend in 2026, ending a 16 year streak of annual increases. That's a freeze rather than a cut, but it's a notable break in a long track record. BCB Bancorp separately suspended its dividend reinvestment and stock purchase plan effective August 6, distinct from the dividend itself. Notable moves SCHD and VYM remain the two most watched dividend ETFs, and they're diverging this year. SCHD is up 25.58% year to date with a 3.30% yield, benefiting from heavier energy sector exposure. VYM, with a lower 2.25% yield, has gained about 19.12% over the past year and carries a lower 0.04% expense ratio versus SCHD's 0.06%. REITs broadly have had a strong year, with the Morningstar US Real Estate Index up 12.98% year to date versus 10.37% for the broader Morningstar US Market Index. Realty Income stands out within that group, yielding about 5% while posting 99% occupancy and 7% AFFO growth, which some analysts argue makes the "retail REITs are struggling" narrative overstated. The three most remarkable changes today: Shutterstock's dividend suspension and the accompanying stock drop, UPS ending its 16 year dividend growth streak, and the widening performance and yield gap between SCHD and VYM driven by sector composition. Market context The Fed held its benchmark rate steady at 3.50% to 3.75% in this week's meeting, a 9-3 vote with three regional presidents dissenting, against a backdrop of inflation running above the 2% target for more than five years. Despite the hold, Bank of America is now forecasting three 25 basis point hikes later in 2026 (September, October, December), and Deutsche Bank expects two. Markets are pricing an 85% probability of at least one hike this year. That's a meaningfully hawkish shift and matters for dividend investors because rate sensitive, yield heavy sectors like utilities and REITs tend to compress in value as risk free Treasury yields rise, while financials tend to benefit from wider net interest margins.

Daily Dividend Market Briefing — July 23, 2026 Dividend Increases/Cuts Penske Automotive Group raised its quarterly dividend to $1.44/share (+1.4%), its 23rd consecutive increase, bringing the annualized payout to $5.76. Nasdaq Inc. declared its regular quarterly dividend of $0.31/share. PNC Financial recently raised its common dividend to $2.00/share. On the downside, Shutterstock's board voted to suspend its quarterly dividend entirely, redirecting cash toward debt reduction. This is a notable cut for income investors holding the stock. TotalEnergies raised its second interim 2026 dividend 5.9% to €0.90/share. Southern Company is on track for its 25th straight annual increase in 2026, putting it on pace to join the Dividend Aristocrats. Notable Moves SCHD and VYM both posted modest gains today (SCHD +0.79%, VYM +0.72%), continuing a stretch where both dividend ETFs are outperforming the S&P 500 so far in 2026 after lagging it over the past five years. SCHD's quality-and-yield screen puts its trailing yield around 3.3% versus VYM's roughly 2.2%. Among aristocrats getting attention this week: Realty Income (monthly payer, ~4.76% yield), Federal Realty (58-year increase streak, longest among REITs), and Chevron (39 straight years of increases, backed by $16.6B in 2025 free cash flow). Market Context The 10-year Treasury yield has climbed to around 4.39–4.5%, pressured by inflation concerns and fiscal-policy worries, rising yields are typically a headwind for yield-heavy sectors like REITs and utilities since they compete more directly with bonds. The Fed has held its benchmark rate at 3.50–3.75% since December, and is widely expected to stay on hold at the July 28–29 FOMC meeting; futures markets are actually pricing in a slight chance of a hike later this year given hawkish comments from Fed Governor Waller on inflation risk. Separately, oil prices jumped sharply (Brent +3.4% to ~$94, WTI +3% to ~$87) amid Middle East tensions, which weighed on broader equities Tuesday (Dow -0.01%, S&P -0.14%, Nasdaq -0.57%) but is a tailwind for energy-sector dividend payers like Chevron.

Dividend Market Briefing, July 25, 2026 Dividend Increases/Cuts Bank earnings drove most of the dividend action this week. Bank of America raised its quarterly dividend 14% to $0.32 per share, payable September 25 (Bank of America 8-K). SouthState Bank lifted its payout from $0.60 to $0.66 per share on the back of Q2 net income of $230 million (StockTitan). Smaller regional names also moved: Union Bankshares and Virginia National Bankshares both reported higher Q2 earnings alongside dividend declarations (Vermont Business Magazine, Minichart). On the cut side, Shutterstock's board suspended its quarterly cash dividend entirely on July 20, citing a shift toward debt reduction. The stock fell nearly 9% on the news (MSN). BCB Bancorp suspended its dividend reinvestment plan effective August 6, a smaller-scale but notable move for income investors tracking that name (SEC filing). Notable Moves Digital Realty Trust, a data center REIT, surged nearly 14% after a Q2 earnings beat and raised full-year guidance, one of the sharper moves among dividend-paying REITs this week (The Motley Fool). Broader markets closed a volatile week roughly flat: the S&P 500 was up 0.05% Friday, the Dow gained 0.46%, and the Nasdaq fell 0.64% on chipmaker weakness (Yahoo Finance). Analysts pointed to a rotation toward defensives and dividend payers as part of the week's trading pattern.