dividends

UK INCOME

Tineke Frikkee grew the dividend on the Newton Higher Income fund by 3.5% in the 12 months to 30 June despite prominent banks, and oil and gas firms slashing their dividends.

BP has spent $2.35bn (£1.5bn) so far cleaning up the oil slick in the Gulf of Mexico, and has paid out $126m in compensation.

BP will not pay dividends for the remainder of the year after being forced to put $20bn (£13.5bn) into a compensation fund for victims of the Gulf of Mexico oil spill.

Liontrust has decided to cut its dividend payment after seeing before tax profit slump from £14.3m to £796,000 over the year to end March.

The UK's leading income managers say investors should remain confident about dividend growth in 2010 and beyond, despite growing fears last week income giant BP, as well as many European players, may be forced to cut or pass payouts.

Warren Buffett has hinted his Berkshire Hathaway conglomerate will pay a dividend in the future.

UK INCOME

Lawyers in the United States were predicting a wave of legal action last night in the wake of the $1bn fraud charge brought against Goldman Sachs by the US Securities and Exchange Commission.

After a difficult 2009, 2010 has started well with many firms growing their dividends by more than expected.