LONDON : Energy companies reaping record profits from soaring oil and gas prices have helped global dividend payments to shareholders soar above pre-pandemic levels and to a record quarterly high, data showed on Wednesday.
In total, global dividend payments reached $544.8 billion in the second quarter, Janus Henderson calculated, up 11.3 per cent on a headline basis year-on-year after companies slashed dividends during the COVID-19 pandemic. "What we've seen is companies have generally come back to paying dividends much more quickly perhaps than some commentators thought they would, because earnings have been better," said Ben Lofthouse, Janus Henderson's head of global equity income.
Despite energy companies reporting soaring profits, their dividend payouts have been higher in previous commodity booms, and the Janus Henderson data does not capture money handed to shareholders through stock buybacks.
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