Investors run for cover as reliable UK dividends in jeopardy

London

ATTRACTIVELY high dividend payouts by companies listed on Britain's stock market could be in danger.

The sectors currently delivering the biggest dividends - those that have kept yield-hungry investors in the UK market - are showing signs of strain.

Oil and gas, pharmaceutical and consumer stocks account for nearly half of the UK market's total dividend payouts, Societe Generale data shows.

But factors from industry regulation to currency exchange are feeding concerns these dividends may erode, and causing investors to seek diversification into sectors where payouts may grow.

One headwind is currency.

Many of Britain's major international exporting companies pay dividends in other currencies, so a weaker sterling has flattered income for UK inve…