BT payouts tally with pension funding gap growth
The funding gap of BT’s (BT.A) pension scheme soared during its latest three-year assessment period.
Between June 2014 and June 2017 liabilities shot up from £47.2bn to £60.4bn, or a £13.2bn increase. That compares with growth in assets of £8.9bn (from £40.2bn to £49.1bn).
Interestingly, the £4.3bn difference between asset and liabilities growth during the period tallies almost exactly with the £4.2bn of dividends BT paid out to shareholders during the same spell.
BT has frozen dividends at 15.4p per share for the foreseeable future.