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Janus Henderson: 2Q24 Global Div. Grows 5.8% to Record High US$606.1B
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The latest figures from the Janus Henderson Global Dividend Index show that total global dividend payments grew 5.8% to US$606.1 billion in 2Q24, a record high. Excluding the impact of exchange rate fluctuations such as the depreciation of JPY, the underlying dividend growth rate for the period was 8.2%. By region, Asia Pacific ex-Japan dividends rose by an underlying 1.1% in 2Q, lagging global growth. Dividend performance in Asia Pacific was heavily influenced by seasonal factors, with more than one-third of the contribution coming from Hong Kong, with an underlying dividend growth rate of 1.1% and a total dividend payment of US$14.1 billion. The largest dividend payer, CHINA MOBILE (00941.HK), paid US$6.3 billion in dividends. In Asia, Singapore, South Korea and Taiwan all recorded double-digit growth, with underlying growth rates of 15.2%, 12.6% and 27.1%. Seasonally, Japan's underlying dividend rose 14.5% in 2Q24, with dividend payments in JPY hitting a record high, but overall growth was only 1.4% on the back of the weak JPY, with total dividend payments of US$37.2 billion. However, Janus Henderson pointed out that 90% of Japanese companies raised or maintained their dividend payments. Janus Henderson raised its forecast for underlying global dividend growth to 6.4% in 2024 from 5%, with overall growth expected to reach 4.7%, up from 3.9% in its previous forecast. AAStocks Financial News |
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