British firms cut dividends by £10 billion
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British companies cut dividend payments by £10 billion in 2009, according to a report by Capita Registrars.
A total of £56.9 billion was paid out in dividends last year, representing a 15% year-on-year drop.
Financial companies slashed £8.2 billion, and of this £6.1 billion was cut by the banks.
HSBC only modestly cut its dividend whilst Standard Chartered actually increased its payment.
