HSBC Plans Quarterly Dividends Again From 2023

HSBC posted an almost 14 percent rise in first-half profit attributable to shareholders to US$8.29 billion and said it plans to revert to quarterly dividends from 2023.

The banking giant also said it's aiming to restore dividend payment to pre-Covid-19 levels as soon as possible.

The bank also announced an interim dividend of US$0.09 per share, and said share buybacks remain unlikely this year.

"We understand and appreciate the importance of dividends to all of our shareholders. We will aim to restore the dividend to pre-COVID-19 levels as soon as possible," Chief Executive Noel Quinn said.

Quinn said the group is confident of achieving its best returns in a decade in 2023.

Pre-tax profit, meanwhile, saw a 15 percent drop to US$9.2 billion, down from US$10.84 billion a year ago but beating the US$8.15 billion average estimate of analysts compiled by the bank. (Agencies)