Sterling strength cuts £3.5 billion off UK dividend payments

Soaring pound reigns in record year for dividends

UK finance
Strong sterling hits UK dividends

Record dividend pay-outs totalling £30.7 billion to UK index investors in the first quarter were significantly dented by the impact of sterling's strength against the dollar and the euro, according to the latest Dividend Monitor from Capita Asset Services.

GBP/USD has soared 12%, hitting its highest level since mid-2009, and sterling has strenghtened some 7% against the euro since March last year. As a result, UK investors have received potentially as much as £3.5 billion less in total dividend

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