Revealed: Ten UK stocks that have increased their dividends by at least 50% by 2024

Spire Healthcare have increased shareholder payouts more than any FTSE 350 company in 2024, while ten companies have bucked the trend of weaker dividends with increases of more than 50 percent.

Private healthcare provider FTSE 250 announced a total dividend of 2.1 pence per share for 2024, a whopping 320 percent increase over last year’s effort of 0.5 pence per share.

Payouts from London-listed companies have weakened overall in 2024 as the all-important mining sector was forced to cut dividends due to weaker commodity demand amid softer economic growth.

Spire is one of ten UK listed companies to increase their dividend payments by more than half by 2024, according to new analysis from AJ Bell.

Dan Coatsworth, investment analyst at AJ Bell, said: ‘After suspending dividend payments during the pandemic, the company is now playing catch-up.

‘The dividend growth essentially means the company is putting a stamp on its prospects, implying that all is well. In fact, Spire said the large dividend increase “reflects confidence in the company’s long-term prospects.”

During the pandemic and the economic headwinds that followed, many companies suspended dividends due to the hardships they faced following a downturn in business activity.

Coatsworth said some of the biggest increases announced in 2024 “need to be seen in the context of rebuilding the payout to sustainable levels.”

Both EasyJet And TI fluid systems have increased their dividends by 169 percent, with EasyJet paying 12.1 pence per share, while analysts predict this could rise to 14.7 pence in 2025 and 15.8 pence in 2026.

Meanwhile, GSK consumer spin-off Haleon increased the payout by 150 percent and the owner of Park Plaza and art’otel PPHE hotels saw its dividend grow by 140 percent.

The hotelier paid a dividend of 36 pence per share and is expected to increase this further to 46.1 pence in 2025, according to market forecasts.

Coatsworth said: ‘Dividends are an important part of successful investing, whether viewed as income to support retirement or reinvested to compound future returns. An important advantage over cash is that companies often increase their dividends every year, while the interest on savings at the bank is usually fixed.’

While only these five companies more than doubled their payouts, another five companies increased their dividends by more than half HSBC with the dividend increased by 91 percent from 42.4p to 64.6p.

Coatsworth added: ‘Many banks are now paying higher dividends than before the pandemic, thanks to a sharp rise in interest rates helping to boost their earnings.’

These higher dividends are the result of these banks charging more for lending, boosting their profits and cash flow.

He said: ‘It’s worth noting that these figures are based purely on normal dividends. HSBC also paid a special dividend, financed by the sale of its banking activities in Canada.

Standard Chartered also made the list and increased its dividend by 50 percent, while Georgia-based TBC Bank and British company Paragon Banking both increased their dividends by 31 percent.

This dividend growth, calculated between January and December 1, does not include special dividends paid by these companies. HSBC also paid a special dividend following the sale of its Canadian banking operations.