HSBC shareholders buzz about freebies like Sevens tickets, have fewer dividend complaints

Many stockholders praised bank’s strong performance last year, adding that they supported new strategies to cut costs and achieve growth

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HSBC CEO Georges Elhedery on Tuesday. Photo: Reuters

Published: 8:21pm, 1 Apr 2025Updated: 9:55pm, 1 Apr 2025

HSBC Holdings shareholders are more concerned with receiving Hong Kong Sevens tickets and other freebies and have fewer complaints about dividend payments or a spin-off of the firm’s Asia business, they told the bank’s top managers at an informal meeting on Tuesday.

Around 1,000 shareholders gathered at a hotel in Wan Chai and many praised HSBC’s strong performance last year, adding that they supported new strategies to cut costs and achieve growth. In past years, some shareholders voiced discontent about the bank’s dividend payment and urged management to spin-off the Asia business.

“We will continue to do all we can to ensure that this great city leads on the international stage,” said Mark Tucker, HSBC’s group chairman.

He told shareholders that the bank had reported a strong pre-tax profit of US$32.4 billion for the year, while maintaining a dividend payout ratio of 50 per cent. This helped the bank to return US$26.9 billion to investors via dividends and share repurchases, he said.

“Since the start of 2023, we have repurchased 11 per cent of the issued share capital”, he said.

Tucker also said HSBC would continue to invest in Asia, with a particular focus on Hong Kong and mainland China.

“Hong Kong, our spiritual home, remains our most profitable market,” Tucker said. “The real opportunity for China [is the continued] opening up of its markets. As part of this, Hong Kong – as the superconnector between China, Asia and the rest of the world – has a very important role to play.”