The Hipgnosis Songs Fund is experiencing sombre mood music after its dividend waiver.


The music fund, which owns the rights to the catalogs of artists including Justin Bieber and Shakira, saw its shares fall after canceling a shareholder dividend and warning of lower-than-expected US streaming royalty income.

Shares in Hipgnosis Songs Fund fell as much as 22% to a record low at one stage and then fell around 11% after the company said it had “significantly reduced” its industry-wide payout forecast following last year’s US ruling. Royalty Board.

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