Last year, underlying dividend growth in the U.K. was just 3.7 percent compared to global growth of 9.9 percent, according to this month's Henderson global dividend index report, which tracks company pay-outs around the world.
"Last year was a great year," said Ben Lofthouse, co-manager of Henderson global equity income fund. "We had 9.9 percent underlying dividend growth coming from companies around the world.
"If you are invested in that you are getting a growing income stream, but there are some tough sectors."
The problem for investors is that U.K. dividends are dominated by a few large companies, such as Shell and GlaxoSmithKline, which held their dividends flat last year.