Standard Chartered looks to win over investors with $1bn share buyback

first_imgSunday 21 April 2019 9:17 am More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Winters is also fending off an investor revolt over a revised method for calculating his £474,000 pension packet.Read more: Standard Chartered prepares for potential $1bn sanctions penaltyStandard Chartered has argued the sum amounts to just 20 per cent of the boss’s total pay. However, on the basis of last year’s rules, this would be roughly 40 per cent of Winters’s pay.Investor group Glass Lewis has called on shareholders to vote down the new method, arguing pension contributions should only be calculated according to base salary. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemUndoDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndo Share Read more: Standard Chartered settles Iran sanctions probe for $1.1bnThe payout comes just weeks after the bank was hit with a $1.1bn fine from the US and the UK over violations of sanctions against Iran.Dividends and share buybacks are subject to approval from the Prudential Regulation Authority, a process that can take up to 90 days. The bank could begin the scheme in July or August if it seeks approval after settling the fine this month.The move, first reported by the Sunday Times, could serve to shore up Standard Chartered’s share price, which has plunged more than 30 per cent since US banker Bill Winters took over as chief executive in 2015.Earlier this year Winters unveiled plans to further cut costs as the bank’s profits fell short of expectations. Standard Chartered has completed $3.2bn worth of cuts since 2015 and is targeting a further $700m reduction in costs as part of its new three-year strategy to boost growth. Standard Chartered is set to launch a $1bn (£770m) share buyback scheme in a bid to win back trust from embattled investors.Analysts have said the London-headquartered bank, which is focused on Asian markets, is preparing to buy back shares for the first time in a generation. James Warrington whatsapp whatsapp Standard Chartered looks to win over investors with $1bn share buyback Tags: Company Standard Charteredlast_img

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