South African dividends increased 75% year on year to R143,2-billion during Q1 2026, says Computershare.
The global financial services company says that the increase reflects higher dividend payments from metals and mining companies, as well as banks.
The rebound from recent weaker first‑quarter payouts was also a result of a significant rise in special dividends during the period.
The company’s Q1 2026 ZA DivInsight Report also reveals that the top five companies accounted for 64% of total dividend payouts during Q1 2026.
Bennie van der Westhuizen CEO Computershare South Africa, said: “Dividend payouts increased during Q1 2026, with the growth concentrated among a small number of sectors and companies.
“Lower inflation and supportive economic signals meant that domestic conditions remained generally stable.
“However, global developments had a significant influence on market outcomes by quarter end.”
Mining, tobacco and banking together contributed 77% of total dividends, according to the report.
Special dividends increased by 267% year on year to R17.7 billion, with payments concentrated among a small number of companies.
The report also revealed that:
- Ten of the 16 leading dividend‑paying sectors recorded year‑on‑year growth, while four sectors did not pay dividends during the quarter.
- FTSE/JSE Top 40 companies contributed 83% of total dividends.
- Smaller companies also recorded an increase in payouts at the start of the year.
- Dividend yields – supported by higher payouts and lower share prices – increased across asset classes.