UK dividends reach record high in Q2

UK dividends reached an all-time quarterly record in Q2 2026, with companies paying £35.3bn, up 2.5% year-on-year. Regular dividends were the main driver, rising 7.4% on an underlying basis to £34.8bn.

The headline result includes these one-offs and is positive, but the detail matters. Special dividends fell 76% year-on-year, while much of the growth in regular payouts came from banks and mining companies rather than a broad-based rise across all sectors.

Key highlights:​

  • Check circle iconQ1 headline dividends: £35.3bn, up 2.5% year-on-year
  • Check circle iconRegular dividends: £34.8bn, up 7.4% on an underlying basis
  • Check circle iconBanks: record £11.1bn in dividends, up 20.6% year-on-year
  • Check circle iconMining: payouts rose 27.5%
  • Check circle iconSector breadth: only 11 out of 20 sectors saw underlying dividend growth
  • Check circle icon2026 forecast: underlying growth upgraded to 3.4%; headline forecast reduced to £90.5bn
  • Check circle iconYield: UK equities are set to yield 3.2% over the next 12 months
“UK dividends reached a record level in Q2, with regular payouts showing strong underlying growth. But the market picture is more mixed than the headline number suggests, with growth concentrated in banks and mining while many sectors continue to face pressure.”

– Mark Cleland, CEO of Governance Services and CEO of Issuer Services UCIA

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