News Headline Summary

HSBC (5 HK) said it achieved USD 4bln of annualized sustainable cost savings and said to progressively grow dividends by 2016

Says:
- To introduce share buybacks by 2016.
- Targets additional USD 2-3bln of sustainable saving in 2014-2016.
- 2014-2016 target dividend payout ratio 40%-60%.

15 May 2013 - 14:06 - Equities - Source: Newswires

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