SCBFF - Standard Chartered launches $1B buyback plan raises total dividend by 50%
- Standard Chartered ( OTCPK:SCBFF ) has launched $1B buyback program, which will start soon.
- The terms of the buyback will be announced shortly and is expected to reduce the Group’s CET1 ratio in the Q1 of 2023 by approximately 40 basis points.
- The company has also increased the total dividend by 50% to 18 cents per share.
- Earlier today, the company announced Q4 results with top-line growth of ~19%.
- Meanwhile, Chief Executive Bill Winters said in a statement, "We are upgrading our expectations, and are now targeting a return on tangible equity approaching 10% in 2023, to exceed 11% in 2024, and to continue to grow thereafter."
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Standard Chartered launches $1B buyback plan, raises total dividend by 50%