Standard Chartered PLC (LSE:STAN) is dishing out the shareholder returns and executive pay following a solid annual earnings result for the FTSE 100-listed banking multinational.
A final ordinary dividend per share of US$0.21 has been proposed, taking the full-year total to US$0.27 cents, marking a 50% yearly increase.
Standard Chartered also announced another $1 billion in buybacks after completing two share buyback programmes worth $2 billion in the last 12 months.
Chief executive Bill Winters enjoyed a 22% bump in his pay package to $9.9 million, according to additional Bloomberg analysis.
Total operating income for the bank was up 10% to $17.4 billion in 2023, with net interest income (NII) adding 23% to US$9.6 billion on a 1.67% net interest margin.
Return on Tangible Equity (RoTE) added two percentage points to 10.1%, while profit before tax was up 27% year on year to US$5.7 billion.
Credit impairment charges fell $308 million to $528 million for the year on a 1.7% annual loss rate, with Chinese commercial real estate accounting for $282 million of these impairment charges.
Standard Chartered also took an $850 million impairment charge on its investment in associate China Bohai Bank.
NII for 2024 is expected to come in between $10 billion and $10.25 billion, with RoTE holding steady at 10%.
Shares jumped 7.7% to 652.2p
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