HSBC Holdings Plc is accelerating plans for shareholder payouts as it said the global economy was starting to emerge from the worst effects of the pandemic.
The bank said it now expects to meet its target of paying out 40% to 55% of earnings in dividends this year, rather than next. It is also examining the possibility of share buybacks, the latest lender to unveil such plans after the Bank of England removed restrictions imposed at the height of the pandemic.
“We definitely feel more confident,” Chief Financial Officer Ewen Stevenson said on Bloomberg Television. “We will keep buybacks under review” together with dividends.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)