Dividends balloon to record high in 2023
Banks contribute half of growth
Mining sector delivers cuts
Outlook for 2024 positive

LONDON, March 13 Reuters Corporate dividends globally hit an alltime high of 1.66 trillion in 2023, with record payouts by banks making up half of the growth, a report showed on Wednesday.

On a worldwide basis, 86 of listed companies either increased dividends or maintained them, according to the quarterly Janus Henderson Global Dividend Index JHGDI report, which also forecast that dividend payouts would hit a new record of 1.72 trillion this year.

The world39;s biggest dividend payers in 2023 were Microsoft MSFT.O, opens new tab, followed by Apple AAPL.O, opens new tab and Exxon Mobil .

The total value of corporate dividends rose from 1.57 trillion in 2022 with underlying growth which accounts for currency movements, special dividends, timing changes and index changes of 5 from 2022, UK asset manager Janus Henderson said.

Corporate cash flow in most sectors remained strong and this provided plenty of firepower for dividends and share buybacks, said Ben Lofthouse, head of global equity income at Janus Henderson.

According to LSEG data, earnings growth for the SP 500 in the fourth quarter of 2023 was expected to come in at 9 yearonyear.

High interest rates have boosted bank margins and banks paid out a record 220 billion to shareholders in 2023, an underlying rise of 15 from 2022 and continuing a rebound after bank payouts were frozen…