Dividend Knights Dwindle as Healthcare and Whirlpool Face Headwinds

As of August 6, 2025, the number of companies qualifying as "Dividend Knights" has fallen from around 175 in 2022 to just 117 currently. This decline highlights the challenges facing dividend-paying stocks, particularly in the healthcare sector and at companies like Whirlpool.

The healthcare sector has been hit especially hard, with only 2 of the original 11 healthcare Dividend Knights remaining. Companies like United Healthcare and Novo Nordisk have faced a variety of issues, including regulatory changes, increased competition, and rising medical costs, leading to dividend cuts and lower earnings guidance.

Whirlpool, a long-time Dividend Knight, also made headlines by cutting its dividend for the first time in over 70 years. The appliance maker cited balance sheet concerns and market challenges, including increased competition from Asian suppliers, as reasons for the dividend reduction.

These developments suggest a broader trend of dividend-paying companies facing headwinds, with the Dividend Knights list shrinking significantly over the past few years. Investors will need to closely monitor the performance and dividend policies of these companies to determine if the current challenges are temporary or part of a more significant shift in the dividend landscape.