Global dividends fall 0.9% as big companies slash payouts

Janus Henderson Global Dividend Index

Global dividends fell 0.9% to $421.9bn in the third quarter of 2023 as a result of large cuts from a few companies, according to the latest Janus Henderson Global Dividend Index.

After adjusting for one-off special dividends and exchange rates, underlying growth came in at 0.3%, the study found. However, when the two biggest cutters - Brazilian oil producer Petrobras and Australian miner BHP - were excluded, underlying growth was 5.3%. The steep cuts came primarily from the mining sector, where half of companies reduced payouts, and from oil producers in Brazil and Taiwan, subverting the overall oil sector growth trend. Chemicals and property also reported lower dividends, mainly in Asia, reflecting the tough market conditions in the region. Global dividend...