Excluding Ireland and the U.K., European dividends are expected to fall by over 1 billion euros ($1.1 billion) this quarter.
Still, a total of up to $193 billion should be paid to shareholders in the fourth quarter, with $101 billion to be distributed by U.S. companies, $46 billion by European firms, and $45 billion from those in the Asia-Pacific region.
Despite firms like Visa, MasterCard and Starbucks set to follow through with major dividend increases this quarter, top U.S. companies in sectors including basic resources, media, healthcare and technology are expected to drag down U.S. dividend growth to 3.4 percent from previous forecasts of 12.3 percent.
Ordinary dividends from Europe excluding the U.K., meanwhile, are set to fall by 4.3 percent to 23.9 billion euros ($25.8 billion), pulled down by a 2.3 billion euros ($2.5 billion) drop in dividends from Russian basic resources firms. Spanish dividends, which usually account for 30 percent of all European payouts, are expected to fall 0.5 billion euros ($0.56 billion), mostly due to Santander's planned dividend cut.