Global dividend plunge to be worst since financial crisis

Banks and other financial firm that have been ordered by the European Central Bank to stop paying dividends accounted for half of the 45% reduction in Europe's Q2 dividend drop to $77 billion.

LONDON: The coronavirus crisis will see the world's biggest firms slash dividend payouts between 17%-23% this year or what could be as much US$400 billion, a new report has shown, although sectors such as tech are fighting the trend.

Global dividend payments plunged $108 billion to $382 billion in the second quarter of the year, fund manager Janus Henderson has calculated, equating to a 22% year-on-year drop which will be the worst since at least 2009.