Investors in UK equities should prepare for a dividend cut, according to research by retail brokerage The Share Centre.

UK-listed corporations have been loathe to cut dividends in the past two years, in spite of a 54% fall in profits at FTSE 350 companies between 2014 and 2015. Instead, payments to shareholders rose by 10% in the 2015/2016 financial year to £78.4 billion from £71.2 billion the previous year.