Wednesday, April 24, 2024
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UK’s major banks are poised to increase dividends in 2024 and beyond, aiming to bolster shareholder distributions while maintaining strong profits and cost efficiency.

All five leading UK banks are projected to raise dividend payouts in 2024, according to S&P Global Market Intelligence. Dividends are expected to grow or remain stable through 2025 for all banks except HSBC.

In 2023, UK banks significantly raised distributions, surpassing £27 billion in total dividends and buybacks. Banks committed to further rewarding shareholders over the next three years, with some increasing profit targets and all focusing on cost control.

HSBC led distributions in 2023, distributing $19 billion and expressing confidence in sustaining substantial capacity for future distributions, including a planned special dividend.

Major UK banks aim to enhance investor returns through robust profits and disciplined cost management. However, analysts remain cautious about HSBC’s and Standard Chartered’s exposure to China, following challenges faced in 2023, including provisions hikes and asset devaluations.

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