3 Overextended Stocks That Need to Slash Their Dividends ASAP

There are lots of overextended stocks out there falling short thanks to dividend payments that are too good to be true. The internationally known pharmaceutical company Bayer (OTCMKTS:BAYRY) is a great example of this as the company recently announced a 95% dividend cut on Feb. 20. It plans to pay the legal minimum of 0.11 euros (12 cents USD) a share for 2023 as part of its three-year plan to reduce its debt. In 2022, it paid out 2.40 euros ($2.60 USD), 0.48 euros (52 cents USD) higher than analyst expecta ...