Company: HBCYF
Filing Date: 2025-05-02
Form Type: 6-K
Source: 0001654954-25-005028
Chunk: 1

Company: HSBC HOLDINGS PLC
Filing Date: 2025-05-02
Form: 6-K
Chunk 1
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 a moment.

Let me now turn to how our performance both in 2024 and in the first quarter of 2025 has enabled us to reward you with higher returns.

In total we returned US$26.9bn to shareholders in respect of 2024.

The total dividend announced for 2024 was US$0.87 per share, which amounts to US$15.9bn.

This includes the special dividend of US$0.21 per share, totalling US$3.9bn. This was paid in June following the completion of the sale of HSBC Bank Canada.

Excluding this special dividend, the full-year dividend of US$0.66 per share is the highest annual dividend since 2007.

In addition, we have now completed four share buy-backs in respect of 2024 worth a total of up to US$11bn.

That includes the up to US$2bn buy-back we announced with our annual results presentation in February, which has now been completed.

Since the start of 2023 we have repurchased 12% of the issued share count.

Combined with our sustained levels of profitability, this has led to greater earnings and dividends per share for our shareholders.

Dividends paid in 2024, together with a more than 20% increase in the share price, delivered a total shareholder return for the year of more than 30%.

Earlier this week, at our first quarter results, we announced an interim dividend for 2025 of US$0.10 per share, and a new share buy-back of up to US$3bn which we expect to initiate shortly after today's AGM.

Looking ahead, the dividend outlook remains strong.

Our dividend payout ratio target for 2025 remains 50%, excluding material notable items and related impacts.

We are targeting a mid-teens return on tangible equity, excluding notable items, in 2025, as well as in 2026 and 2027.

We are confident that we can meet our targets and, as a result, deliver another year of healthy returns in 2025, despite the uncertain geopolitical and geoeconomic environment, globally.

Indeed, whether it is trade, international security arrangements, or economic policy, we are experiencing a period of deep and profound change.

The over-arching impact of the changing approach to global trade relations has been to increase economic uncertainty with serious potential risks to global growth.

The range of possible outcomes and the implications thereof, make any attempt at medium term projections very difficult.

Despite