Quilter helps UK dividends reach third-quarter record of £32.3bn

Annual forecast upped to just shy of £100bn

Laura Dew
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Paul Feeney, chief executive of newly-listed Quilter
Image:

Paul Feeney, chief executive of newly-listed Quilter

UK dividends beat expectations in the third quarter to reach £32.3bn, helped by the listing of wealth manager Quilter, with underlying dividends growing at the fastest-ever rate, rising by 6.9% to £31.6bn.

This figure was supported by wealth manager Quilter, which listed "with a bang" in June, immediately declaring a £230m special dividend. The latest Dividend Monitor from Link Asset Services showed headline dividends grew by 4.1% to £32.3bn in Q3, a third-quarter record thanks to payouts from banks and mining companies. While this was an improvement on the second quarter of 2018 when headline dividends fell 2.1% for the first time in three years as a result of lower special dividends, special dividends were still down year-on-year in Q3, falling by half to £755m. Underlying dividend...

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