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  2. Share Prices
  3. Standard Chartered Share Price
  4. Standard Chartered Share News
  5. IN BRIEF: Standard Chartered begins USD1 billion share buyback

Pin to quick picksStandard Chartered Share News (STAN)

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Share Price Information for Standard Chartered (STAN)

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Share Price: 775.40
Bid: 775.20
Ask: 775.60
Change: 20.60 (2.73%)
Spread: 0.40 (0.052%)
Open: 756.00
High: 776.40
Low: 755.40
Prev. Close: 754.80
STAN Live PriceLast checked at -

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IN BRIEF: Standard Chartered begins USD1 billion share buyback

Mon, 26th Feb 2024 12:22

Standard Chartered PLC - London-based, Asia-focused bank - Begins buyback of shares. Plans to buy back up to USD1 billion in shares. The purpose of the buyback is to reduce the company's outstanding shares and will close by August 23.

The buyback was announced last Friday, alongside full-year results. It said it plans to return "at least" USD5 billion to shareholders over 2024 to 2026.

In 2023, StanChart brought in operating income of USD18.02 billion, a 10% increase from USD16.32 billion a year before. Net interest income increased 2.4% to USD7.77 billion from USD7.59 billion, while non-NII jumped 17% to USD10.25 billion from USD8.73 billion. Pretax profit increased 19% to USD5.09 billion from USD4.29 billion, but fell short of company-compiled consensus of USD5.12 billion. Net interest margin came in at 1.67% - a touch above consensus expectations of 1.66% - and improved from 1.41% in 2022. Its underlying return on tangible equity improved to 10.1% from 7.7%.

Current stock price: 649.20 pence, up 2.2% on Monday

12-month change: down 18%

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: StanChart plans USD1.00 billion CoCo bond issue

Standard Chartered PLC - Asia-focused lender - Plans to issue USD1.00 billion in fixed-rate resetting perpetual subordinated contingent convertible bonds. In addition, it announces final terms of a EUR1.00 billion 4.196% fixed rate reset notes issue due 2023. "The notes have been issued under the USD77.50 billion debt issuance programme," it says on the latter.

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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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