HSBC Eyes Special Payout on Canada Sale After Ping An Battle
- Fourth-quarter earnings rise 92%, beating analyst estimates
- Lender leaves NII guidance unchanged, expects cost to rise 3%
This article is for subscribers only.
HSBC Holdings Plc will consider a special payout after the sale of its Canadian unit as the bank attempts to face down a campaign from its top shareholder to pursue a wider break-up of the business.
Reporting fourth-quarter results that beat analyst estimates, HSBC said it may pay a special $0.21 dividend next year after the completion of the transaction amid an ongoing tussle with Ping An Insurance Group Co of China. The bank announced the all-cash sale of HSBC Canada in November as it seeks to convince investors its plan to refocus on Asia is a better bet than Ping An’s call to consider spinning out its business in the region.