14.09.2016. HSBC implements dividend repurchase scheme to positive reception

Company News

HSBC Holdings Plc has experienced the largest growth since April after announcing a $2.5 billion USD dividend repurchase scheme in partnership with Brazil whilst retaining its shares at the current level for the time being.

Stocks held in Hong Kong added 1.56% to HK $51.60, while those in London jumped 4.5% at the market open this month.

HSBC Holdings Plc posted a 28% dip in its half-year net profit to almost US $7 billion, weaker than market expectations, as lower client transaction volumes slowed global business revenues. Profit dropped 11% to just under US $30 billion.

The bank announced it had gained approval to use US $2.5 billion, in order to buy back shares in the second and third quarter.