Last year was the worst year on record for dividends as more companies slashed their dividends than ever before, according to Standard & Poor’s.

Of the 7,000 publicly owned companies on which S&P collects dividend data, 804 cut their dividends in 2009, costing investors over $58 billion in income, according to the ratings and research firm. By comparison in 2007, only 110 companies cut their dividend.

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