Hsbc Share Discussion Threads

[montyhedge] 01/4/2020 06:51

HSBC said plenty of capital, gov must have told PRA tell banks don't pay.Seems like Labour in power not Tories.

[suetballs] 01/4/2020 06:48

Confidence will be further undermined - what a mess. The savings industry is in tatters.
Suet

[montyhedge] 01/4/2020 06:30

Plenty of capital, but PRA said don't pay.

[panshanger1] 01/4/2020 06:24

Currently down 9% in HK trading

[daffyjones] 01/4/2020 06:09

The Board of HSBC Holdings plc (‘HSBC’) has today received from the Bank of England through the Prudential Regulation Authority (‘PRA’) a written request not to pay, in HSBC's case, the fourth interim dividend in respect of 2019. Similar requests have been made to other UK incorporated banking groups.

The Board recognises the current and potential material impact on the global economy as a result of the coronavirus pandemic and the important role that HSBC has in helping its customers to manage through the crisis and to have resources to invest when recovery occurs. HSBC has a strong capital, funding and liquidity position; however, there are significant uncertainties in assessing the time period of the pandemic and its impact.

The Board has therefore met to discuss the written request from the PRA and, in response to the request, has cancelled the fourth interim dividend of US$0.21 per ordinary share, which was scheduled to be paid on Tuesday, 14 April 2020. The Board regrets the impact this cancellation will have on our shareholders, including our retail shareholders in Hong Kong, the UK and elsewhere.

The Board has also decided that until the end of 2020 we will make no quarterly or interim dividend payments or accruals in respect of ordinary shares, or undertake any share buy-backs in respect of ordinary shares.

The Board will review the ordinary share dividend policy and payments in respect of 2020 once the full impact of the pandemic is better understood, and economic forecasts for global growth in future years are clearer. These factors will be considered, alongside analysis of our own internal financial projections and modelling.

[nigthepig] 31/3/2020 23:22

From Financial Times - re cancellation of dividend In its statement, HSBC said it regretted "the impact this cancellation will have on our shareholders, including our retail shareholders in Hong Kong, the UK and elsewhere". The Asia-focused bank also warned that its revenues would be hit by higher credit losses due to coronavirus, although it said its performance in the first quarter had been "resilient". 

[suetballs] 31/3/2020 23:21

Dividend income looks to be disappearing rapidly for the rest of the year and into next year as well.
Phew!!!!
Suet

[spud] 31/3/2020 23:04

Analysts expect no dividends to be paid this year by the UK banks, apart from HSBC. spud

[watfordhornet] 31/3/2020 22:51

Not great although guessing a bit of today's drop was because of it.On flip side if strengthens bank probably right thing to do. No one knows where this virus could go and the amount of damage caused.All Banks will cut. If they did need to go cap in hand to govnt at some point won't look good if they have just shelled out billions to shareholders

[spud] 31/3/2020 22:34

Have a guess!spud

[maxplus2] 31/3/2020 22:32

What does that mean to share price if divi is cancelled?

[watfordhornet] 31/3/2020 22:30

I thought Monty was never wrong!

[nw99] 31/3/2020 22:24

Will drop one this Monty told us it was safe

[watfordhornet] 31/3/2020 22:10

Internal mail to 300,000 staff about 5 mins ago

[spud] 31/3/2020 22:07

Source? Or a case of verbal diarrhoea...spud

[watfordhornet] 31/3/2020 22:01

No dividend will be paid in 2020. Shame

[montyhedge] 31/3/2020 17:21

40% overdraft rates for everyone, even if arranged. If banks can't make money from that they never will, cheaper to get a loan from a pawn shop, lol.

[nw99] 31/3/2020 17:13

Under pressure

[smartie6] 31/3/2020 16:11

Sorry.
I see it now.

[montyhedge] 31/3/2020 16:08

You did not read it properly, Credit Suisse and HSBC indicates they are going to pay the 2019 dividend.

[smartie6] 31/3/2020 16:03

It doesn’t say anything.

[montyhedge] 31/3/2020 16:00

I'm sure they will then back up to 500p +

[montyhedge] 31/3/2020 15:59

HSBC indicates they are going to pay dividend.

[spud] 31/3/2020 12:14

They'll be a lot of pressure from PFMs not to cancel the dividend I can assure you! Where else are they going to make up the shortfall....?

Did someone at the back dare whisper Big Oil & Tobacco??

spud