Shareholder dividends paid by UK companies fell by a record 57 percent in the second quarter, as firms faced “horrendous” trading disruption and looked to shore up their balance sheets against a Covid-19-induced recession.
The Q2 2020 total fell by 57.2 percent to £16.1 billion, almost £22 billion less than in Q2 2019 on a headline basis. This was the lowest second-quarter total since 2010, and the decline itself is the biggest ever recorded.
Further figures from Link Group’s dividend monitor show 176 companies cancelled dividends altogether and 30 cut them – with these firms representing more than three-quart...