Making matters worse, Estée Lauder management decided to slash its dividend payout from $0.66 to $0.35 effective next quarter. This is a huge drop that cuts the dividend almost in half. The stock currently pays a dividend yield of around 2% based on this new quarterly payout ratio.

Estée Lauder shares plunged 20% Thursday after it said first-quarter sales sank because of softness in China and the Asia travel markets, and that it was cutting its dividend and withdrawing its full-year outlook.