UK drives a global record for dividends

A jump in dividends from British companies helped to propel the total payout by businesses around the world to a record $544.8 billion in the second quarter.

Companies in the UK paid out $38.5 billion to shareholders in the period, an increase of 32.3 per cent compared with a year earlier, according to research by Janus Henderson, the fund management firm. On an underlying basis, which adjusts for special dividends, currency fluctuations and other factors, British dividends were up 29.3 per cent.

This was driven by post-pandemic increases in payouts by miners, banks and oil groups. Rio Tinto, the FTSE 100 commodities giant, was the third largest dividend payer in the world during the quarter, the fund manager said.

The UK increase contributed to

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