Macy's slashed its quarterly common payout to a mere nickel a share from 13.25 cents, for an annual savings of $138 million. Yield: 2.04%. It initiated dividends in 2003, and had been upping them every year.

Motorola, meanwhile, eliminated its quarterly common payout of five cents a share, which it had been distributing since mid-2006. That will save it $450 million annually. Motorola had paid dividends without interruption since 1942.

Last week's dividend bloodletting also included Bassett Furniture (BSET), whose retail strategy is to custom-build and deliver affordable furniture to customers within 30 days. Bassett halted its payout, ending a 74-year skein of continuous disbursements, but saving it about $4.4 million a year. Bassett also suspended its share-repurchase plan. The 107-year-old Virginia company had halved its quarterly to 10 cents a share in October, after returning $22 million to stockholders in its fiscal 2008 year, which ended Nov. 30. That year the company paid a 75-cent special in addition to its regular payout and also bought back stock. Bassett paid for all this by liquidating a significant chunk of its investment portfolio.

With more than $10 billion in annual revenue and 5.8 million independent sales reps, Avon is the world's No. 1 direct seller of beauty products, fragrances and fashion jewelry. Its new quarterly will be 21 cents a share, payable March 2 to holders of record Feb. 17. The stock goes ex-dividend Feb. 12. This is Avon's 19th annual dividend boost. Payouts have been ongoing since 1919. Share repurchases in 2008 totaled $172 million, down from $667 million in 2007. "We have a solid balance sheet, an operating model that generates healthy cash flow and a continued commitment to our dividend," declared CEO Andrea Jung. Avon finished 2008 with $1.1 billion in cash, versus $973 million in 2007. Yielding 3.66%, the stock was recently quoted around 23; its 52-week range is 45.34 to 17.45.

Des Moines, Iowa-based Meredith will pay a new quarterly of 22.5 cents a share. Meredith, one of the nation's top media and marketing companies, published magazines including Ladies' Home Journal, Fitness and More. The distribution, record and ex-dates are March 13, Feb. 27 and Feb. 25. Meredith has paid dividends for 62 consecutive years, and has boosted them for 16 years in a row. CEO Stephen M. Lacy cited its conservative financial structure and strong cash flow in announcing the increase, which puts the stock's yield at 5.61%. That high figure reflects a gruesome reality: Like most media stocks, Meredith's has been battered. It's down more than half over the past year.