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19
Jul
2023

UK Dividend Monitor Q4 2022
Insights - What We Think

UK DIVIDENDS ROSE 8.0% in 2022 BUT FACE HEADWINDS FOR 2023

• UK dividends rose 8.0% to £94.3bn on a headline basis, with growth held back by a one third decline in one-off special dividends

• Underlying payouts, which strip out special dividends, rose 16.5% to £84.8bn

• Record share buybacks equalled 2% of UK market capitalisation in 2022 and were exerting a noticeable drag on dividends by year-end

• Q4 payouts rose 7.0% on an underlying basis but the headline total was impacted by lower special dividends and a recovery in the pound

• Underlying dividends set to rise 1.7% to £86.2bn but headline payouts will decline 2.8% to £91.7bn as one-off specials are likely to be lower

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UK Dividend Monitor Q4 2022
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