HSBC Holdings plc (NYSE:HSBC) Declares Quarterly Dividend of $0.50

HSBC Holdings plc (NYSE:HSBC) declared a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.50 per share by the financial services provider on Thursday, December 19th. This represents a $2.00 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, November 8th.

HSBC has raised its dividend by an average of 36.2% per year over the last three years. HSBC has a payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect HSBC to earn $6.30 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 31.7%.

HSBC Stock Up 1.4 %

Shares of NYSE HSBC opened at $47.27 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $103.64 billion, a PE ratio of 7.81 and a beta of 0.56. The company’s fifty day simple moving average is $44.60 and its 200 day simple moving average is $43.84. HSBC has a 12-month low of $36.63 and a 12-month high of $47.35.

Analysts Set New Price Targets

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a report on Wednesday, July 31st.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.