The Macy’s brand may not die, but Macy’s as we know it is dying. Macy’s will have to completely transform its business model just to survive. Macy’s investors enjoyed a dividend yield of 4.13%, an annualized payout of $1.51, and a payout ratio of 38.4% on 8 November 2018. That’s superb for a $37.78 a share stock. Macy’s is planning a 37.7¢ dividend for January 2, 2019. However, that dividend has not increased since June 2017. Under these circumstances, Macy’s is a respectable dividend stock, but it is too risky for long-term investment. For instance, I think the Macy’s dividend will soon decrease or disappear.