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Dividend income seekers had a tough year in 2009, but the current twelve months may not be much better, according to registrar Capita.

It estimates UK dividends paid fell by 15%, or £10bn, in 2009 to £56.9bn, well down on the £66bn paid in 2009.

But 2009 proved to be a double whammy year for shareholders, with companies raising a further £73bn in new equity making a net transfer of £16bn from shareholders to companies.

The means, in effect, shareholders have nothing from companies overall since the end of 2007, Capita said, as dividends over the past two years have totalled £123bn but cash calls raised £124bn.

Banks were the main reason for last year's fall. Lloyds and Royal Bank of Scotland paid nothing to shareholders in 2009 as they went cap in hand to the government.

A total of 202 listed firms cut their dividends, 74 to zero. Some 179 companies increased their payouts and 60 maintained them at the same level.

Drug companies paid 20% more in dividends, electricity suppliers, food retailers and tobacco producers raised dividends by at least 10%, the report said.

This year, Capita expects dividends to rise by just 5%.

"With UK dividends so dependent on oil companies whose profits are under pressure, it will be hard to see growth overall. What's more, many of our largest companies earn much of their revenues overseas, so dividends won't benefit so much from a falling pound, now sterling has stabilised," Paul Taylor at Capita said.