Photo: Reuters
LONDON (Reuters) - European dividend futures are stirring from their months-long slumber, reflecting investor expectations that positive COVID-19 vaccine updates on top of trillions of dollars in stimulus will fast-track an anticipated recovery in company profits.
On Wednesday, 2021 dividend futures for European banks jumped 11% after European Central Bank official Yves Mersch said lenders may be allowed to resume payouts next year if they show their balance sheets are strong enough.
The contract remains well below 2019 levels.
More broadly, Euro STOXX dividend futures contracts for 2023 and beyond have surged around 20% in November on expectations vaccinations could start next month.
The derivatives, measuring future dividend payouts, have rallied alongside so-called value stocks, companies which are more sensitive to economic cycles.
Globally, dividends could fall $263 billion this year, a Janus Henderson report said this week, while analysts tracked by Refinitiv I/B/E/S predict that payouts by STOXX 600 index constituents may drop nearly $60 billion.
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