HSBC Holdings PLC (HSBA) - 2023 Results

[idpickering]

Noel Quinn, Group Chief Executive, said:

"Our record profit performance in 2023 enabled us to reward our shareholders with our highest full-year dividend since 2008, three share buy-backs last year totalling $7bn, and a further share buy-back of up to $2bn. This reflected four years of hard work and the strength of our balance sheet in a higher interest rate environment.

We have a strong platform for growth with the opportunities that exist within our two home markets and across our international wholesale, market-leading transaction banking, and wealth management businesses. We are focused on capturing these growth opportunities, improving our earnings sustainability and targeting mid-teens returns in 2024."

And later;

Fourth interim dividend for 2023

On 21 February 2024, the Directors approved a fourth interim dividend in respect of the financial year ended 31 December 2023 of $0.31 per ordinary share, a distribution of approximately $5,913m. The fourth interim dividend for 2023 will be payable on 25 April 2024 to holders on the Principal Register in the UK, the Hong Kong Overseas Branch Register or the Bermuda Overseas Branch Register on 8 March 2024. No liability was recorded in the financial statements in respect of the fourth interim dividend for 2023.

The dividend will be payable in US dollars, or in pounds sterling or Hong Kong dollars at the forward exchange rates quoted by HSBC Bank plc in London at or about 11.00am on 15 April 2024.

https://www.investegate.co.uk/announcem ... ts/8047581

Also posted on Company News here; viewtopic.php?p=648217#p648217

Ian.

[funduffer]

Noel Quinn, Group Chief Executive, said:

"Our record profit performance in 2023 enabled us to reward our shareholders with our highest full-year dividend since 2008, three share buy-backs last year totalling $7bn, and a further share buy-back of up to $2bn. This reflected four years of hard work and the strength of our balance sheet in a higher interest rate environment.

We have a strong platform for growth with the opportunities that exist within our two home markets and across our international wholesale, market-leading transaction banking, and wealth management businesses. We are focused on capturing these growth opportunities, improving our earnings sustainability and targeting mid-teens returns in 2024."

And later;

Fourth interim dividend for 2023

On 21 February 2024, the Directors approved a fourth interim dividend in respect of the financial year ended 31 December 2023 of $0.31 per ordinary share, a distribution of approximately $5,913m. The fourth interim dividend for 2023 will be payable on 25 April 2024 to holders on the Principal Register in the UK, the Hong Kong Overseas Branch Register or the Bermuda Overseas Branch Register on 8 March 2024. No liability was recorded in the financial statements in respect of the fourth interim dividend for 2023.

The dividend will be payable in US dollars, or in pounds sterling or Hong Kong dollars at the forward exchange rates quoted by HSBC Bank plc in London at or about 11.00am on 15 April 2024.

https://www.investegate.co.uk/announcem ... ts/8047581

Also posted on Company News here; viewtopic.php?p=648217#p648217

Ian.

Cor, it's a whopper!

FD

[Dod101]

https://www.investegate.co.uk/announcem ... ts/8047581

Also posted on Company News here; viewtopic.php?p=648217#p648217

Ian.

Cor, it's a whopper!

FD

What’s a whopper?

Dod

[funduffer]

Cor, it's a whopper!

FD

What’s a whopper?

Dod

A thing that is unusually large. Includes the name of a well-known hamburger.

[idpickering]

The above report hasn't been well received it seems, with the HSBC SP being down 6.6% as I type.

Disappointing though that is, it won't budge me from holding HSBC. I might even top up my holdings.

Ian.

[Dod101]

The above report hasn't been well received it seems, with the HSBC SP being down 6.6% as I type.

Disappointing though that is, it won't budge me from holding HSBC. I might even top up my holdings.

Ian.

I said as much on the Company News thread. The market is never happy. It seems that it is the impairment charge against the Bank of Communications that has spooked it
. Nothing to do with the trading of HSBC itself.

6.6% is a big drop!

Dod

[kempiejon]

The dividend commentary is well received by me. If they can maintain the dividend for the next 12 months, and that's my minimum forecast, the yield on offer is 7.5%. I could be interested to buy more at that income offer. I see they've now got 4 years of increasing dividends since the bad times. A happy example of a HYP pick selfhealing.
Sharecast are suggesting a forecast yield of 10%, I think it not unreasonably to see an increase between now and next year.
https://sharecast.com/equity/HSBC_Holdings

[idpickering]

6.6% is a big drop!

Dod

Indeed. In fact a bit of a whopper as mentioned by FD above .

Is anyone here taking advantage of todays HSBCs' SP weakness? The yield on offer this morning has risen of course.

Ian

[Dod101]

6.6% is a big drop!

Dod

Indeed. In fact a bit of a whopper as mentioned by FD above .

Is anyone here taking advantage of todays HSBCs' SP weakness? The yield on offer this morning has risen of course.

Ian

Well I am not as it is already my biggest holding but it is surely good value at the moment, especially for an income investor.

Dod

[idpickering]

Indeed. In fact a bit of a whopper as mentioned by FD above .

Is anyone here taking advantage of todays HSBCs' SP weakness? The yield on offer this morning has risen of course.

Ian

Well I am not as it is already my biggest holding but it is surely good value at the moment, especially for an income investor.

Dod

Agreed thanks Dod. I wish I had more cash at the ready on days like these. Even now, HSBC are of average capital value weighting in my portfolio.

Ian.