The devaluation of sterling following last month's Brexit vote is likely to provide UK investors with an "unexpected windfall" of £2.8bn in dividend payments in the second half of the year, according to Capita Asset Services.
According to the latest quarterly Capita Dividend Monitor, if the exchange rate stays at lows of $1.33 in the second half of the year, UK dividends declared in dollars will be boosted by £2.7bn, with an additional £120m coming from those declared in euros. Overall, Capita expects sterling devaluation to boost UK dividends by £4.3bn in 2016, and has therefore upgraded its underlying dividend forecast for the year by 0.5% to £76.9bn. "For as long as the pound stays low, and there is little to support it at present, those gains will persist in future years too, though of course, the glob...
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