How have companies in OECD countries used the reduction in interest payments on their debt?

Since the subprime crisis, central banks in OECD countries have given rise to interest rates that are much lower than the growth rate, leading to a sharp drop in the interest paid by companies on their debt. How have companies used this reduction in the interest on their debt? In principle, they can: Deleverage or build up financial reserves; Increase wages; Increase investment; Increase payments to shareholders (dividends and share buybacks). The reduction in the interest paid on debt has been used to hold cash, make acquisitions and increase wages and investment, but not clearly to increase payments to shareholders.