UK Q2 2024 dividends hit a record £36.7bn, driven by banking profits and HSBC special dividends, while overall growth was slow at 1% due to mining sector cuts.
UK dividends reached a record high of £36.7bn in Q2 2024, propelled by higher profits in the banking sector and special dividends from companies like HSBC. However, underlying growth was slow at 1%, mainly due to a volatile mining sector which saw a second consecutive year of cuts. Excluding the mining sector, the underlying increase in dividends was 8.6%, with 16 out of 21 industry sectors seeing higher dividends.
July 22, 2024
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