Dividends have kept up with global equities

2 July 2026

Dividends have kept up with global equities

Global equities have risen this year, driven by a small group of AI-related companies, while dividend strategies have kept pace without the same concentration. Beneath the strong headline returns, market leadership has been far narrower than it appears, with a limited number of AI beneficiaries accounting for the majority of gains.

As AI narratives continue to dominate markets and influence valuations, investors face an increasingly complex landscape where perception and fundamentals do not always align. In this latest Market Musings, we examine the growing concentration behind global equity returns, the opportunities created by market mispricing, and why dividend strategies have remained resilient despite the AI-driven rally.

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Disclaimer

Van Lanschot Kempen Investment Management NV (VLK Investment Management) is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and, as such, is subject to supervision by the Netherlands Authority for the Financial Markets. This document is for information purposes only and provides insufficient information for an investment decision. It does not constitute investment advice, an investment recommendation, research, or an invitation to buy or sell any financial instruments and should not be interpreted as such.The views expressed in this document are those of VLK Investment Management at the time of publication and may be subject to change without notice.

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