HSBC Holdings plc is a multinational bank and financial services company. It just published its H1 2024 financial results, netting a pre-tax profit of $21.6 billion. This figure is down from the exceptionally high gains they posted over same period in 2023.
Group Chief Executive Noel Quinn, who is also stepping down, said: “Our robust first half results for 2024 demonstrate that we are executing well on our strategy. From a cash return perspective, we still delivered good returns for our investors especially after the very successful 2023.
The bank also announced a new share buyback programme, saying it may acquire up to $3 billion of shares over three months. This is in addition to the $3 billion buyback they just finished last quarter.
The group also foreshadowed an interim dividend of $0.1 per share, making for a full year cash return to the shareholders at their end amounting to $4.8 billion, They have returned $34.4 billion to their shareholders since 2023.
