Dividends paid by companies across the world to shareholders hit a record in the third quarter, according to a study released Monday, although further growth was likely to be weak.

The amount shareholders received in dividends in the third quarter rose by 2.8 percent from last year to hit $355.3 billion, a record for the July-September period, according to a report by Janus Henderson Investors.

“A slowdown in global dividend growth is underway,” said the report, adding “2020 likely to see a moderation in dividend growth given the global economic environment”.

In the third quarter of last year dividend growth came in at 4.4 percent.

While the United States hit an all-time record for dividends, China showed weakness and Australia saw a decline, according to Janus Henderson, a major player in the asset management industry with more than 355 billion euros under management.

Dividends in the Asia-Pacific region slid by 2.8 percent, with Janus Henderson Investors noting that many firms there distribute a fixed percentage of profits in dividends.

Janus Henderson said it had made no change in its forecast for 2019 –- a 3.9 percent increase to a record $1.43 trillion in dividends.