Corporate dividends hit record $1.66tr

LONDON:

Corporate dividends globally hit an all-time high of $1.66 trillion in 2023, with record payouts by banks making up half of the growth, a report showed on Wednesday.

On a worldwide basis, 86% of listed companies either increased dividends or maintained them, according to the quarterly Janus Henderson Global Dividend Index (JHGDI) report, which also forecast that dividend payouts would hit a new record of $1.72 trillion this year.

The world’s biggest dividend payers in 2023 were Microsoft, followed by Apple and Exxon Mobil.

The total value of corporate dividends rose from $1.57 trillion in 2022 with underlying growth – which accounts for currency movements, special dividends, timing changes and index changes – of 5% from 2022, UK asset manager Janus Henderson said.

“Corporate cash flow in most sectors remained strong and this provided plenty of firepower for dividends and share buybacks,” said Ben Lofthouse, head of global equity income at Janus Henderson.

Published in The Express Tribune, March 14^th, 2024.

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