Tronox CEO Slashes Dividend 60% - Here's What It Means for Your Portfolio
Key Points
- Tronox Holdings slashed its dividend by 60%, reflecting weak...
When a company cuts its dividend by 60%, it's basically sending shareholders a postcard that reads "Wish you were here... but we need your money more than you do." That's exactly what Tronox Holdings (NYSE: TROX) delivered this September, and the titanium dioxide market is feeling about as white and chalky as their main product.
The Great Titanium Dioxide Depression
Tronox's July 30 earnings report read like a horror story written by an accountant. The company slashed its full-year revenue forecast faster than a day trader closes a position during a market crash. The culprit? A perfect s...
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