Business
ASX dividends to hit $73b as it rains upgrades – The Australian Financial Review
Corporate Australia will pay out $73 billion in dividends in 2020-21, after the biggest upgrade to payouts in 20 years. JPMorgan calls it the start of a dividend…
Payouts plunged nearly 30 per cent in 2019-20 when companies put capital management on ice to survive COVID-19.
For those sailing close to the covenant wind, the first step was to raise capital. For others, which encompassed most of the market, dividends were cut deeply, JPMorgans Australian equity strategist, Jason Steed, said.
We were optimistic that this results season would herald a turnaround in earnings and dividend expectations. The reality, thus far, has exceeded our elevated expectations.”
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