UPDATE 1-HSBC chair says dividend outlook strong despite economic uncertainty

[admin]

HSBC is in a strong position to continue paying robust dividends to shareholders despite an uncertain global economic outlook and central bank policy moves, its chairman Mark Tucker said at the bank's annual shareholder meeting on Friday. The bank returned $19 billion to shareholders in 2023 through dividends and share buybacks, has announced a further $8.8 billion so far for 2024, and is targeting a dividend payout ratio of 50% this year, Tucker said. HSBC has been able to splash out on such shareholder rewards in recent years as rising central bank interest rates have boosted its lending income, turbo-charging its profits.