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The resumption of quarterly dividends - went xd today for Q1 dividend
Really making a dent in the amount of shares LOL
AGM results were uploaded a minute after making the last comment. 19.20% voted for in favour of resolution 18.
I don't know. AGM results are to be released later on. For some reason Reuters failed to mention about resolution 18.
Was there any indication of support. for. higher dividends?
Glad to see this horrible resolution defeated. However, I see them probably trying again in the future.
LONDON, May 5 (Reuters) - Europe's biggest bank HSBC defeated a resolution from Hong Kong-based shareholders and backed by major investor Ping An to potentially spin-off its lucrative Asia business, the bank's chairman Mark Tucker said on Friday.
Tucker told investors at the end of the annual investor meeting held in Birmingham in England that shareholders had backed the board in all resolutions.
The special resolutions submitted by individual investor Ken Lui recommending the bank boost dividends and review its strategy were both defeated, Tucker said. Final voting results will be published later on Friday.
A HSBC spokesperson said that apart from Ping An, none of the bank's top 50 shareholders voted against the board and a "strong majority" of retail shareholders also backed the lender.
"The overwhelming majority of shareholders, excluding Ping An, have voted to draw a line under the debate on the structure of the bank," the spokesperson added.
Turnout in the voting was around 50%, the spokesperson said, meaning the final results will likely still show a sizeable rebellion against the board, as Ping An's shareholding would translate to a vote share of 18-19%.
It looks like pressure from rebel investors is paying dividends (pun intended). A prospective dividend yield of 7.8% (plus buybacks) makes this share a very attractive income generator.
Could be 3X10 cents plus final which used to be double the first three.
So total for 2023 could be 50 cents.
Also don't forget a large return may be made when the sale of the Canadian operations is completed.
Nice to see a UK bank gaining rather than tanking on good results for a change.
We hold about 3 times value in HSBC v TESCO.
On 23rd June, 15% more for Tesco in dividends.
I know HSBC pay 4 times, still? Tesco's cover looks a bit better too.
XD date is 12/05/2023 with payment on 23/06/2023.
Interestingly, in the Q&A which is still ongoing, Noel Quinn pointed out that the CET1 dividend accrual is higher than the announced dividend. That means they still have capital available for distribution as a dividend.
10.00c
10c
Wow good RNS
what is the dividend payment ?
Sorry the figures should be cents per share rather than pence.
The results are due on Tuesday. I presume that they will update the situation of the sale of the French retail business but don’t know if they will comment on the state of the proposed special div if the sale doesn’t happen.
HSBC are reversing the impairment they took in anticipation of the sale and that amounts to c12p per share as opposed to the proposed div of 21p per share
adding caveats...? so taking out none trading days I.E, Bank hols and weekends is adding caveats?
DYOR
Why add caveats to a projection and then remove the original post? Almost like you're admitting you were wrong. Which you were.