An increase in dividends from energy and financial companies helped to drive payouts, while Australian miners boosted local dividend growth.
Chunky payouts from energy and financial companies helped to drive global dividend payments to a record $US544.8 billion in the June quarter, as companies rewarded shareholders despite the emerging economic challenges on the horizon.
Australian mining companies, including the iron ore giants Rio Tinto and BHP, helped to drive higher dividends.“The strong Q2 figures follow a profitable 2021 when companies enjoyed rising sales and expanding profit margins on the back of soaring post-pandemic demand,” Janus Henderson said in a report.
Higher borrowing costs will in turn slow economic activity, increasing the potential for large, developed economies to contract. “Surging cash flows from high oil prices meant oil producers contributed two fifths to second quarter growth,” Janus Henderson said, with companies in Brazil and Colombia among the largest contributors.
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