Under the effect of "huge" payments made by mining companies in the third quarter, global dividends are rebounding faster than expected after the pandemic and are expected to reach a record in 2021, according to a study published on Monday.

U.S. asset manager Janus Henderson finds in a quarterly report that payouts to shareholders jumped 19.5% from 2020 to $ 403.5 billion, a record for a third quarter.

Increased optimism for the future

These figures are pushing the company to raise its outlook for 2021: Janus Henderson now expects payments growth of 15.6%, which is expected to reach $ 1.460 billion, an all-time high.

"Dividends are recovering faster than expected, reflecting improving corporate balance sheets and heightened optimism for the future," said Ben Lofthouse, head of equity management at Janus Henderson, quoted in the statement.

Thus in the third quarter, "the dividend index of Janus Henderson is now only 2% lower than the peak which preceded the pandemic in the first quarter of 2020", before an unprecedented drop in shareholder compensation, notes the study.

A "huge amount"

It is the mining companies that inflate dividends in the third quarter with a total of 54.1 billion dollars paid, a "staggering amount" for the authors of the study who stress that it is more than the previous record, established on the whole of 2019.

“Soaring commodity prices have generated record profits for many mining companies,” the study explains.

However, regarding the 2022 outlook, "it seems unlikely that mining companies will be able to maintain this level of payment given their dependence on the volatile prices of the underlying commodities," warns Jane Shoemake, portfolio manager at Janus Henderson.

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