Investors in UK companies can expect to receive an additional ￡5.7bn of dividends this year because of the pound’s slide against the US dollar.
The extra cash underlines how a weaker UK currency benefits many British companies that earn a large share of their income abroad, as well as sterling-based investors whose portfolios have international exposure.
The pound hit a record low against the dollar last month following the UK government’s ill-fated plans for extensive and unfunded tax cuts. Even after recovering, it is still down 15 per cent this year.
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