Global dividends reached a record $827.3bn in the second quarter of 2026, according to Capital Group’s Global Equity Study.
The Dividend Watch part of the report said there had been a 7.9% rise in payouts versus the same quarter last year.
Core growth, which adjusts for exchange rates, special dividends and other technical factors, was 7.5%.
Capital Group noted the second quarter is the seasonal high point for global dividends. Payouts in the quarter were larger than the entire annual total as recently as 2011.
The researchers found growth was broad-based, with 88% of companies globally increasing dividends or holding them steady, with median growth of 6%.
Unsurprisingly, the fastest growth came from the technology sector, where core payouts rose 26.3%. Capital Group said the AI boom is driving strong profit growth across the global semiconductor supply chain, which is feeding into shareholder payouts.
Half of that increase came from the US. The rise keeps technology on track to become the second largest dividend-paying sector after financials for the first time.
Financials remained the top sector for now, by a large margin. Payouts rose by $26bn (10.1%) A mining sector recovery gathered pace, with payouts up 15.1%.
In regional terms, Japan and the wider Pacific region delivered the strongest dividend growth globally, supported by improving corporate profitability, governance reforms and continued shareholder-focus among listed companies, Capital Group found.
Europe saw modest core growth of 3.6% and was held back by cuts in the automotive sector. ‘Robust’ payouts from financials offset this weakness to some degree.
The US delivered core dividend growth of 8.7% on the same squarer last year, while emerging market growth lagged at 4.7%, mainly due to the Middle East.
The UK had strong second quarter, with payouts up 8.5% to $41bn. Banks were the major driver, with all increasing their payouts, reflecting strong profitability.
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Total UK payouts over the period jumped by $2.7 billion (22%), with the mining sector also contributing sigificantly.
Turning to the outlook, Capital Group said it ‘remains positive’. The firm has upgraded its 2026 global dividend projection to $2.23 trillion from $2.2 trillion, representing topline growth of 6.4% and core growth of 6%.
The main drivers of this are strong special dividends, a weaker US dollar and the changed dividend policy of a ‘large US semiconductor company’.
Alexandra Haggard, head of product, Europe and Asia-Pacific at Capital Group, said: “Global dividends accelerated in the second quarter of 2026, with strong growth across most regions and sectors and large increases from some of the world’s biggest companies.
“The AI boom is no longer just driving markets and boosting share prices. It is now also helping to drive record cash returns for shareholders globally.”
