The boost to dividends shows how UK companies with a significant portion of their earnings coming from abroad are benefiting from a weaker Sterling.

Last month, the Pound traded at its lowest against the US Dollar, since records began, as it reached a record $1.03 on 26 September as a result of market backlash after the UK government’s catastrophic Mini-Budget. Even after much of the announced tax cuts and fiscal policies were reversed and the Pound recovered, it is still 15% down for this year, The Financial Times reports.

Ian Stokes, managing director at Link Group commented: “The exceptional weakness of the pound [has] enormously flattered the figures.”

He added: “As the dollar has soared in value, the translated value of dollar dividends has received a boost.”