UK dividends make a strong start to 2023 but growth is forecast to slow

  • Q1 dividends rose 4.6% to £15.2bn
  • Underlying growth was 5.6% (excludes volatile special dividends and exchange-rate effects)
  • Oil companies made the largest contribution to Q1 growth along with consumer services and housebuilders
  • Banks are expected to be 2023’s biggest engine of dividend growth, but falling mining payouts are predicted to hold growth down

“Under Computershare, the Dividend Monitor will extend its reach, and, by tracking the big trends in UK equity income and providing forecasts for UK payouts, offer the readers a comprehensive and accurate analysis on UK dividends every quarter.”

Mark Cleland

Mark Cleland
CEO Issuer Services, UCIA

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