Vladimír Urbánek (Kurzy.cz)
World markets  |  January 16, 2013 14:38:57

European firms reduced dividends this year by 3.3%, most telecommunications and utility

According to a survey by Bloomberg major European titles represented in the Euro Stoxx 50 index drops this year the dividends paid on average by 3.3% to 115.48 euros per share, which would be the lowest in the last four years. Such a decrease in the current level of appreciation, the average dividend yield at 4.3% compared to 6.3% at end-September 2011.

The decline should occur despite the fact that the amount of cash held by companies is currently the highest since 2008. In 2012, the amount of cash held within the index rose by 9.3% to 1 834 EUR per share.
Stoxx 50 Index rose last year for the first time since 2009 and by 14%. Last week, the index has moved up from June 2011. Dividend income in the index exceeds government bond yields, however, this distinction is now beginning to decline due to reduced dividends in the telecommunications sector and public services.The difference with the 10-year government bonds now dropped to 2.77% from 4.67% in June last year.

In the telecommunications sector, this year's average dividend yield reaches a level of 6.6% compared to 8.5% in 2011. Reduction in dividend announced for example Dutch America Movil, and France Telecom (31% reduction).
In the segment of the public service, then this will be reduced to 6.3% compared to 6.7% for 2012 and 7.8% for the year 2011.

The European banking sector is estimated to average dividend yield this year of 4.2% compared to 10.7% in 2008.

For U.S. companies from the base of the S & P 500 is estimated for the current year dividend growth of 2.3% compared to 2.2% in 2012.
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