Goldman Sachs said on Monday it expects S&P 500 dividends to fall by 25per cent in 2020 as certain large dividend-paying industries are ...
Goldman Sachs said on Monday it expects S&P 500 dividends to fall by 25per cent in 2020 as certain large dividend-paying industries are particularly vulnerable to the economic shock of the coronavirus outbreak.
FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File PhotoLONDON: Goldman Sachs said on Monday it expects S&P 500 dividends to fall by 25per cent in 2020 as certain large dividend-paying industries are particularly vulnerable to the economic shock of the coronavirus outbreak.
"The record high level of net leverage for the median S&P 500 stock coupled with the ongoing credit market stress means many firms are unlikely to borrow to fund their dividend," Goldman said in a note.The U.S. investment bank said it expects a wave of dividends to be suspended, cut, and scrapped over the rest of the year.
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