Standard Chrtrd PLC - COVID-19: dividend, buy-back & new commitments
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
COVID-19: dividend, buy-back and new commitments
Dividends and share buy-back
Furthermore, no interim dividend on ordinary shares will be accrued, recommended or paid in 2020. The board's recommendation regarding a final dividend in 2020 will take into account the financial performance of the Group for the full year and the medium-term outlook at that time.
The board fully recognises the importance of dividends to the Group's owners. However, suspending shareholder distributions at this time will allow the Group to maximise its support for individuals, businesses and the communities in which it operates whilst at the same time preserving strong capital ratios and investing to transform the business for the long term.
The Group is well capitalised with low leverage and high levels of loss-absorbing capacity. Its capital and liquidity metrics remain well above regulatory thresholds.
Charitable funding and increased financing
The Group has a commitment to be 'Here for good'. It has always stepped up to live to that promise in times of challenge and is doing so again now.
With immediate effect the Group is launching a
The Group has already implemented several other initiatives to provide economic support to clients and protect their wellbeing and to support the Group's 84,000 employees around the world.
And yesterday the Group announced that it is committing up to
Remuneration and trading performance update
The board has committed to ensure that decisions regarding 2020 remuneration, including executive remuneration, will be taken in the light of the Group's overall performance and the challenges faced by the Group's various stakeholders resulting from the spread of COVID-19.
The Group will provide an update on its performance in the year-to-date and more details regarding its response to the COVID-19 pandemic at its first quarter earnings announcement on
The decisions announced today relate to the Group's ordinary shares and not to any other Group instruments.
As at the end of
This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014. This announcement will also be available on the group's website at: https://www.sc.com/en/investors/stock-exchange-announcements/
This information is provided by RNS, the news service of the
Quick facts: Standard Chartered PLC
Market Cap: £13.73 billion
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