StanChart Returns To Profit, To Resume Dividends
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2018-02-27 HKT 13:08
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Standard Chartered Bank has returned to the black and decided to resume dividend payments following a two-year restructuring.
The bank posted a profit of US$774 million for last year – compared to a loss of US$478 million a year ago.
It also announced that it will give a dividend payment of 11 US cents per share.
It scrapped the payment in 2015 after the bank ran into trouble when global commodity prices crashed and bad debts started to rise. The bank said it intends to increase the payment over time as its performance improves.
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