I think the problem with that is, in the US at least, once a company starts issuing a dividend, it is expected to keep issuing that dividend, no matter what. An

I think the problem with that is, in the US at least, once a company starts issuing a dividend, it is expected to keep issuing that dividend, no matter what. And not only to keep issuing the dividend, but to increase it over time, too. Companies are expected to cut almost anything else, even taking on debt or laying off workers, before thinking of cutting the dividend.