HSBC raised its dividend to the highest level in four years and said it may hand out a further special payout next year, as it seeks to fend off break-up calls from its largest shareholder Ping An.
The UK- and Hong Kong-listed bank also said it would consider share buybacks sooner than expected. The moves came as it reported quarterly pre-tax profits rose to $5.2bn, surpassing expectations, as higher interest rates boosted revenues.
HSBC’s push to please its shareholders comes as it faces pressure from Ping An, a Chinese insurance group which owns just over 8 per cent of the bank’s shares and is lobbying for a split of its Asian and western operations.