By ; Rasha Hagag

Global share buybacks surged 26.8% year-on-year to $572.0bn in the second quarter of 2026, driven by increased profitability among technology and financial companies, according to the latest Janus Henderson Global Dividend and Buyback Index.

Technology was at the centre of the increase, overtaking financials to become the largest source of buybacks globally, with companies repurchasing $121.1bn of shares during the quarter. Strong profitability has so far enabled leading technology companies to combine significant shareholder returns with rising investment in AI infrastructure, including data centres and computing capacity. Technology also recorded the fastest underlying dividend growth of any industry, at 23.5%, with payouts totalling $70.5bn.

Global dividends also remained resilient, reaching $757.8bn in Q2. Underlying dividend growth was 7.3%, with positive underlying growth recorded across every region covered by the Index. Headline growth was lower at 3.2%, largely reflecting payment timing effects.

Financials continued to play a central role in global capital returns, with banks rebuilding dividends towards more normal historical levels following years of recovery and increasingly using buybacks to distribute additional surplus capital. The industry remained the largest contributor to dividends, distributing $239.7bn in Q2, with underlying growth of 8.1%.

The trend was particularly evident in the UK, where companies in the Index distributed $39.5bn in dividends. Growth reached 14.6%, well above the global rate, with banks leading the increase.

Middle East dividends continued to grow in the second quarter, with companies across the region distributing an estimated US$44.6 billion, up 5.5% year-on-year on an underlying basis. Saudi Arabia remained the region’s largest dividend-paying market, accounting for 63.6% of the total with payouts of US$28.4 billion. UAE companies distributed US$13.6 billion, or 30.4% of the regional total, with underlying dividend growth of 7.3%. Kuwait recorded the region’s fastest growth, with payouts rising 45.0% on an underlying basis to US$1.8 billion.

Meshal AlFaras, Managing Director, Head of Middle East, Africa & Central Asia at Janus Henderson Investors, said: “The latest figures show the growing contribution Middle Eastern companies are making to global dividend income. Saudi Arabia remains the region’s dominant dividend market, while the UAE continues to record healthy growth and Kuwait saw a particularly strong increase this quarter. From what we are seeing on the ground, investors are taking a growing interest in the income opportunities available across the region. We believe Middle Eastern companies have an increasingly important role to play in a globally diversified income portfolio.”