Eager to please investors, companies under enormous pressure, particularly in the resource sector, have doggedly stuck to their payout ratios despite reporting falls in profits.

Rio Tinto chief executive Sam Walsh called it as he saw it.

"If you look at the world we are in, yield is key," he said.

Rio Tinto reported its interim results early this season and lifted its interim dividend 12 per cent to $US1.075, or 40 per cent in Australian dollar terms in the face of a year in which bulk commodities prices regularly plumbed multi-year lows. That is despite posting a staggering 80 per cent fall in half-year profits.

Even as the commodities boom winds down, many companies feel beholden to their shareholders who have long enjoyed the high-yielding stocks.

Origin Energy maintained its 25¢ dividend payment despite the pain of a $658 million loss and worries over the oil and gas company's balance sheet.

Western Areas, Sandfire Resources and Downer EDI were among those to hold or lift their dividends, with Western Areas one of many reporting a stronger balance sheet after some heavy cost-cutting as nickel prices fell.

Arrium was among the few that did not declare a dividend, as well Bradken Group, while Woodside Petroleum dropped its former status as a yield play as declining profits hit, but indicated its strong balance sheet meant it would look at acquisitions. Monadelphous also sliced into its dividends.

On Friday, oil and gas company Santos slashed its dividend 25 per cent after an 82 per cent plunge in its first-half profit. But it was an outlier, and the cut was overshadowed the resignation of chief executive David Knox. Interestingly, its share price dived but recovered to finish Friday level.

"Some of the resources companies, because of their progressive dividend policies, are paying out more than 100 per cent of their profits and increasing their debts to do it," Alphinity Investment Management principal Johan Carlberg said.

"I don't think they're putting anything at risk but obviously, you would like to see dividends be backed by cash flow," he said.

"Companies are trying to please investors a bit with good dividend yield because they don't have that much growth," Mr Carlberg said.

Credit Suisse researchers found dividend payments were one of the few positive surprises of reporting season, about 1.8 per cent higher than expected to date.

Dividends grew at a rate of 9.3 per cent, much faster than expected, and payout ratios have raced ahead to 71.5 per cent, compared with 69.8 per cent previously.

Credit Suisse Private Banking Australian head of investment strategy David McDonald said dividend payouts had been one of the few supports of the market this reporting season.

"The yield has been higher than some of the other markets, that has been particularly appealing and where Australia still stands out with its decent dividend yield," he said.

But  given the disappointing outlooks, the market's position as a global yield magnet was looking shakier, Mr McDonald said.

"We still prefer offshore markets to the Australian market for our clients, particularly Europe, even though yield is still an attraction given the earnings headwinds," he said.

The so-called "defensive" yield stocks still delivered this year, led by the mother of all dividend plays, Commonwealth Bank.

It lifted its dividend 5 per cent to $2.22 a share on the back of a record $9 billion profit, making for a total payout of $4.20 a share for the year.

Wesfarmers delighted the market with a 9.8 per cent rise in profit, declared a final fully franked dividend of $1.11, up from $1.05 in 2014. It's share price rose 1.2 per cent while Woolworths fell 2.5 per cent as investors shifted their faith from one supermarket retailer to another.

On Thursday, Qantas, after announcing a $975 million profit, said it would reward shareholders by restoring dividend payments, which it had frozen since 2009, paying out 23¢ a share.

JB Hi-Fi, which emerged as one of the darlings of reporting season, lifted its dividend from 2¢ a share to 31¢, bringing its full-year payout to 90¢, a figure sure to please income-conscious investors.