The AFI Magazine – Issue #3(December 2008) of UK says:

“A quarter of the FTSE 350 could cut or scrap dividends in the next 12 months because of the economic environment“. (emphasis added)

Due to the above, a panel of fund advisers suggest staying away from cyclicals like basic materials, industrials and service sectors.

The Adviser Fund Index (AFI) Magazine is published by Trustnet UK and Financial Express.