HSBC Announced Buyback Of Up To $2.0B To Be Completed Ahead Of Q1 FY24 Results Announcement, Considers Special Dividend Per Share Of $0.21 In H1 FY24 Following The Sale Of Canada Business
Portfolio Pulse from Benzinga Newsdesk
HSBC plans to buy back up to $2.0 billion in shares before the Q1 FY24 results announcement and is considering a special dividend of $0.21 per share in H1 FY24 after selling its Canada business.
February 21, 2024 | 8:13 am
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HSBC announces a share buyback of up to $2.0 billion before Q1 FY24 results and considers a $0.21 special dividend in H1 FY24 following the sale of its Canada business.
Share buybacks typically signal a company's confidence in its financial health, potentially leading to a positive investor sentiment and an increase in stock price. The consideration of a special dividend further enhances shareholder value, indicating a direct financial benefit to shareholders. Both actions, especially when announced together, are likely to have a positive short-term impact on HSBC's stock price.
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