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On this episode of The nestegg Podcast, the CEO of Industry Super Australia, Bernie Dean, shares his insights into the impact of COVID-19 on super funds.

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Bernie joins host Grace Ormsby to unpack how the economic downturn has been affecting different demographics, why many in the older age bracket are experiencing increased levels of anxiety, and what those people can do to preserve their nest egg and minimise their losses.

Bernie also delves into Industry Super Australia’s stance towards accessing superannuation early as part of the government’s stimulus measures, whether now is a good time for people with the means to contribute extra to their super, and industry fund plans for a road to recovery for both their members and the national economy.

Thanks Bernie, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Industry Super Australia are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Wednesday, 03 June 2020

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Dividends to fall until 2021

By Cameron Micallef · May 11 2020

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Invest

Dividends to fall until 2021

By Cameron Micallef
May 11 2020

Reading:

Dividends to fall until 2021

By Cameron Micallef · May 11 2020

Reading:

Investors who are living off a dividend stream are being advised that they might face some financial hardship, with the COVID-19 crisis likely to cause a reduction in how much companies can pay shareholders.

Portfolio manager of the Ausbil Active Dividend Income Fund Michael Price said investors should look at the GFC to give an indication of how dividends might be affected during the COVID-19 crisis.

“Dividends are definitely going to fall as earnings are going to fall.”

“During the global financial crisis, 63 per cent of companies reduced their dividends and a further 3 per cent suspended them completely. Dividends paid by the market fell by 16 per cent between 2008 and 2009.

“Unfortunately, shareholders should be prepared for a meaningful drop in dividends, especially in the shorter term.

Mr Price remains bullish on the asset class for the medium to longer term, telling investors that over time dividends will return for income investors.

“However, relative to other investment alternatives, the income from shares is likely to remain very attractive.

“Going forward from 2021, we expect dividend yields to be largely unchanged from pre COVID-19 levels. Given the further reductions we have seen in cash rates, this makes income from shares even more attractive relative to alternative income investments.”

The investment analyst highlighted that it looks like the fall in economic activity is likely to be at least as large as in the GFC, but for a shorter period of time, meaning dividend investors can expect similar impacts.

“The amount of government and central bank stimulus and support already exceeds that of the GFC, which may allow most companies to get through the downturn without having to issue additional capital that permanently dilutes the earnings and dividends for existing shareholders.

“Over the next six months, dividends may fall slightly more than the GFC as a result of a number of companies suspending their dividends temporarily. However, we expect them to rebound faster than the GFC in 2021 as dividends are resumed. As an example of this, we have already seen more companies suspend their dividends than occurred during the GFC.”

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.