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From another board.

first the govt came for bank shareholders, than they came for FT100 shareholder, than they came for all shareholders dividends…..then they started to takeover the companies…AND WE DID NOTHING

https://www.nasdaq.com/articles/report%3A-federal-reserve-likely-wont-order-dividend-suspensions-at-big-banks-2020-04-04

nasdaq.com
Report: Federal Reserve Likely Won't Order Dividend Suspensions at Big Banks

https://www.nasdaq.com/articles/report%3A-federal-reserve-likely-wont-order-dividend-suspensions-at-big-banks-2020-04-04

Sorry Hongkong.

No bank in China, Honkkong, Taiwan,Japan, South Korea or Singapore have taken away the dividend for 2019. We're talking about last year's dividend from last years profit which was about to be paid now. Shareholders are also humans and they are effected by this epidemic just like others. Banks are private companies owned by their shareholders . If they are not allowed to pay a dividend because of the crises ,then no other compney trading on the stock exchange should.
Same law should apply to everyone.

That's what they said a month or so ago.

"We are pleased to announce that, subject to shareholder approval at the Annual General Meeting, we will pay a final ordinary dividend of 3 pence per share and a special dividend of 5 pence per share. This year, our total ordinary dividend of 5 pence per share is excluding the post-tax FX recycling gains of £1.6 billion, given this is purely an accounting adjustment. If approved, this will mean that we have returned £4.2 billion in capital to shareholders since we resumed dividend payments in 2018, of which £2.6 billion has gone to the UK taxpayer.Looking ahead, we expect to maintain ordinary dividends of around 40% of attributable profit "

HSBC chief executive Noel Quinn sent a letter to each of the bank’s shareholders in Hong Kong .

“We profoundly regret the impact this will have on you, your families and your businesses,” Quinn said in the one-page letter, which will also be posted on the bank’s investor website. “We are acutely aware of how important the dividend is to our shareholders in Hong Kong. We deeply value your support as a shareholder and we never take that for granted.”

Unlike Barclays "Some HSBC directors are said to be furious at the Bank of England for forcing it to cancel its dividend and suggested the bank should move its headquarters from London to Hong Kong".

https://www.thisismoney.co.uk/money/markets/article-8181747/HSBC-trashes-claims-dividend-row-quit-Britain.html

Noel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFPNoel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFP
Noel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFP

HSBC chief executive Noel Quinn sent a letter to each of the bank’s shareholders in Hong Kong on Friday to explain the lender’s decision to cancel its dividend this week and reassure investors of its strong capital position.

The unusual step of writing directly to the bank’s shareholder base in the city came after a torrid three-day stretch that saw about US$15 billion shaved off the company’s market capitalisation after the bank cancelled its final interim dividend for 2019 and said it would not pay a dividend for at least the first three quarters of the year.

HSBC was one of seven banks and building societies based in the United Kingdom that agreed to cancel their dividends early on Wednesday and not to undertake any share buy-backs this year after a request from the Prudential Regulation Authority, a regulatory arm of the Bank of England.

Calling it a “sensible precautionary step”, the watchdog asked HSBC and the other banks to take the step on Tuesday night London time to ensure they would be able to continue to support the wider economy in light of the coronavirus pandemic, which has infected more than 1 million people worldwide and probably sent the global economy into a recession.

“We profoundly regret the impact this will have on you, your families and your businesses,” Quinn said in the one-page letter, which will also be posted on the bank’s investor website. “We are acutely aware of how important the dividend is to our shareholders in Hong Kong. We deeply value your support as a shareholder and we never take that for granted.”

Business / Banking & Finance

HSBC boss Noel Quinn writes letter to reassure Hong Kong shareholders after sharp three-day drop in stock price

HSBC cancelled its dividend, suspended buy-backs on Wednesday after request from UK regulator

https://www.scmp.com/business/banking-finance/article/3078394/hsbc-boss-noel-quinn-writes-letter-reassure-hong-kong

April 3 (GMT)

Italy: the real number of COVID-19 cases in the country could be 5,000,000(compared to the 119,827 confirmed ones) according to a study which polled people with symptoms who have not been tested, and up to 10,000,000 or even 20,0000,000 after taking into account asymptomatic cases, according to Carlo La Vecchia, a Professor of Medical Statistics and Epidemiology at the Statale di Milano University.

This number would still be insufficient to reach herd immunity, which would require 2/3 of the population (about 40,000,000 people in Italy) having contracted the virus [source].

The number of deaths could also be underestimated by 3/4 (in Italy as well as in other countries) [source], meaning that the real number of deaths in Italy could be around 60,000.

If these estimates were true, the mortality rate from COVID-19 would be much lower (around 25 times less) than the case fatality rate based solely on laboratory-confirmed cases and deaths, since it would be underestimating cases (the denominator) by a factor of about 1/100 and deaths by a factor of 1/4.

https://www.worldometers.info/coronavirus/country/italy/

Hard working citizens earnings which they saved and invested so that they're not a burden on the state have halved in a few weeks. Taking away their income was totally unfair.

"And why should Investors be different from anyone else in society at not facing hardships at the moment."
Hard working citizens income which Ithey saved and invested here so that they're not burden on the state has halved in a few weeks. It's acceptable up to there, but taking away their income is not.

" European and UK regulators this week told banks that their efforts should focus on supporting the economy rather than shareholders."
Then it should apply to all companies, not just the banks.

British banks already pay much higher rate of corporation tax than other businesses.

The government must understand that they're private companies and have responsibillity toward their shareholders too.

"Banks need more than ever as much liquidity as possible to support business's at the moment."

That's easy to say if you are just a daytrader.

Investors are also facing the hardship. The money we had invested here has halved in a matter of weeks. Last thing we needed was the robbery of our dividend, which was an important source of income for many retired people.

https://www.investmentweek.co.uk/news/4013520/banks-attempted-defy-calls-scrap-dividends-reports

None of the British banks have said whether they will change bonus policies. Elsewhere in Europe, Deutsche Bank AG is said to be reviewing bonuses for its senior managers, while Spanish lenders Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA said they will cut remuneration for top executives.

thesun.co.uk

Coronavirus LIVE updates: Death toll rises to 2,961 in the UK

1.7million may have already had Covid-19

https://www.thesun.co.uk/news/11283723/coronavirus-news-uk-live-updates/

"Telling the same story but not taken down - yet!"

What is the story?

The Bank of England’s pressure on HSBC to cancel its dividend for the first time in 74 years has reignited a debate at the top of the bank over whether it should redomicile to Hong Kong.

Several people familiar with the matter said the BoE’s intervention had prompted anger among some board members and executives, with calls to reopen the question of whether the group’s legal base should move from London.

HSBC was one of five UK-based lenders that agreed on Tuesday night to withhold 2019 dividends, bowing to pressure from the BoE’s Prudential Regulation Authority, the UK’s top financial supervisor.