A dividend freeze has occurred globally. As firms opt to preserve cash given prolonged uncertainties of the pandemic, global payouts could shrink as much as 23 per cent this year - which would make 2020 the worst year for dividends since the financial crisis, showed a Janus Henderson Investors study published this month.
19 per cent in 2020, compared to a 2 per cent drop for the S&P 500, calculations using futures maturing in December showed. Sherwood Zhang, a portfolio manager at Matthews Asia, said he has recently further reduced exposure to traditional dividend payers, particularly financials, and lifted the portion of growth stocks in his portfolio to as much as 70 per cent.
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Hong Kong: Stocks open higher on Friday[HONG KONG] Hong Kong stocks started Friday with gains after the head of the Federal Reserve said the US central bank would maintain low interest rates for as long as was needed to boost the economy. Read more at The Business Times.
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