A total of £57bn was paid, a 15pc year-on-year drop, according to research from Capita Registrars. Financial companies cut £8.2bn of payments, including £6.1bn slashed from the banking sector. The state-owned banks paid nothing, while HSBC only cut modestly and Standard Chartered actually increased its distribution to shareholders.   Related Articles UK companies fear recession despite upturn Merlinesque figures are beginning to work their powers on recovery Profits halve at Vodafone after £5.9bn writedown Fundamentalist View: 'There will be only two London-listed banks left by the end of 2009' Landlords call truce over charges CBI calls on Darling to hold back borrowing However, oil investments proved lucrative, with £3bn more paid out than in 2008, a 26pc year-on-year increase. Defensive companies such as utilities and cigarette groups lived up to their reputation, increasing payments by 5pc over the course of the year. Cyclicals fared worse, with payouts cut by 25pc.[Read more...]