MILAN, Nov 15 (Reuters) - Global dividends fell 0.9% to $421.9 billion in the third quarter due to lower special dividends and a small number of corporations making large cuts to investor remuneration, a report showed on Wednesday.
Janus said total dividends were slightly better than expected in the quarter despite lower one-off special payouts and exchange rate effects.
"Special dividends have decreased, reflecting less M&A activity and the disappearance of windfall profits in sectors like mining," he added.
The largest cuts to payouts were made by Brazilian oil group Petrobras (PETR4.SA) and Australian miner BHP (BHP.AX).
More than half of mining companies reduced their payouts while 89% of companies overall raised their dividends or held them during the period, the report said.
Persons:
Janus Henderson, Janus, Ben Lofthouse, Banks, Danilo Masoni, Elaine Hardcastle
Organizations:
MILAN, Petrobras, PETR4, BHP, Chemicals, China Construction Bank Corp, China Mobile, HK, Thomson
Locations:
Brazil, Taiwan, Czech, Asia, PetroChina, Europe