BREAKING NEWS

UK firms pay record $36 billion in dividends

By REUTERS

JULY 23, 2012 02:04

LONDON - UK companies paid a record 22.6 billion pounds ($35.50 billion) in dividends in the second quarter as many firms baulked at spending bumper cash piles on deal making or other forms of capital expenditure in the face of the global economic slowdown.

The quarter, which usually sees the biggest dividend payouts, was the sixth consecutive quarter of growth and took the half-year total to 41.4 billion pounds, a 21.3 percent gain on 2011 and the fastest period of growth since 2007, Capita Registrars said in a report.

As a result, the firm updated its expected full-year total for UK firms by 2 billion pounds to 78.3 billion.

Large special dividends by the likes of Old Mutual, GlaxoSmithKline and Antofagasta all boosted the quarterly total, although structural growth was also seen.

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