Hang Seng Bank of Hong Kong invested over HKD 30 million to repurchase 300000 shares

2024-05-10

Hang Seng Bank of Hong Kong announced on the 8th that it will repurchase 300000 shares from the Hong Kong Exchange and Clearing Limited at a cost of HKD 32.0953 million, with a repurchase price of HKD 106 to HKD 107.7 per share. Hang Seng Bank of Hong Kong invested HKD 32.0953 million to repurchase 300000 shares. The picture shows the Hang Seng Headquarters Building in Hong Kong. The CEO of Hang Seng Bank in Hong Kong, Shi Yingyin, stated that the bank's dividend in the first quarter of this year has increased on an annual basis. She mentioned that the current stock price of the bank has not been directly linked to market performance, and the market is still volatile, with the outlook not fully clear. But she said that after the bank launched its share repurchase plan, the stock price has stabilized to a relatively ideal level and will continue to work hard in the future, hoping to further improve shareholder returns. Hang Seng Bank of Hong Kong launched a $3 billion share buyback plan in April this year and is expected to complete it on or before September 9th. The Chief Financial Officer of Hang Seng Bank in Hong Kong, Su Xuebing, stated that the bank's last repurchase was in 1997. Considering the bank's strong ability to generate capital, it will continue to study various capital distribution plans. She mentioned that the bank conducts a 5-year capital plan every year, evaluating factors such as the bank's profitability, regulatory environment, capital level, and market development, to ensure that Hang Seng Bank in Hong Kong has the ability to respond to market changes. (Lai Xin She)

Edit:Lubaikang    Responsible editor:Chenze

Source:China News Network

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