Standard Chartered resumes dividend, buy backs as it reports a worse-than-expected fourth-quarter loss
- Standard Chartered to restart dividend, undertake US$254 million share buy-back programme
- Fourth quarter pre-tax loss was US$449 million, below consensus estimate of US$215 million
Standard Chartered said on Thursday that it would restart its dividend and unveiled a US$254 million share buy-back programme as it reported a worse-than-expected loss in the fourth quarter.
In the fourth quarter, Standard Chartered reported a pre-tax loss of US$449 million, below a consensus estimate of a US$215 million pre-tax loss by 14 analysts polled by the bank. That compared with a pre-tax profit of US$194 million a year earlier.
On a net basis, the bank reported a fourth-quarter loss of US$610 million, compared with a loss of US$126 million a year ago. The fourth-quarter results included restructuring charges of US$248 million and an annual bank levy of US$331 million charged by the United Kingdom government.
Standard Chartered said it would make a dividend payout of 9 US cents a share for full-year 2020.
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