Hipgnosis, a company that offers investors the chance to make money from the royalties of tracks by famous artists including Beyoncé and Neil Young, has scrapped plans to pay a dividend after slashing the amount it expects to receive from royalty payments.
The London-listed company said an independent valuer of its portfolio had “materially reduced” its assessment of industry-wide royalty payments after a decision last year by the US Copyright Royalty Board to recalculate the rate.
