HSBC Holdings
Website:
HSBC Holdings
Index:
FTSE 100
EPIC: HSBA
Supersector:
Banks
Sector:
Banks
Subsector:
Banks
Market Cap:
£190.95B
Payout Frequency: Quarterly
HSBC Holdings Dividend Analysis and Summary
Key dividend details
- Type and amount: Third interim dividend of $0.10 per ordinary share (FY2025).
- Ex-dividend date: 06/11/2025 (London, Hong Kong, Bermuda).
- Record date: 07/11/2025.
- Payment date: 18/12/2025.
- Currency: Paid in USD (optional GBP/HKD; FX set on 08/12/2025). Currency election cut-off: 03/12/2025.
- ADSs: $0.50 per ADS; ex-div 07/11/2025, record 07/11/2025, pay 18/12/2025.
- YTD ordinary dividends for 2025: $0.30 per share (first, second and third interim dividends of $0.10 each).
- Buy-backs: $3bn completed on 24/10/2025; buy-backs temporarily paused (see structural changes).
Policy and guidance
- Dividend policy: target payout ratio (on “target basis”) of 50% for 2025, excluding material notable items and related impacts.
- Capital target: CET1 ratio range 14.0%–14.5% maintained.
- Earnings outlook: 2025 RoTE (ex-notables) expected mid-teens or better; 2025 banking NII now guided to $43bn or better.
Support and sustainability
- Earnings cover: 9M25 RoTE 13.9%; 17.6% excluding notable items. Basic EPS ex material notable items $1.14 (9M25), comfortably covering YTD DPS of $0.30.
- Capital headroom: CET1 14.5% (3Q25) within target range despite $1.4bn legal provisions (treated as material notable items and excluded from payout basis).
- Cash generation: Banking NII resilient with upgraded FY guidance; structural hedge and deposit growth support income. Target basis cost growth disciplined (~3% for 2025).
- Share count: Completed $3bn buy-back reduces share count, modestly enhancing DPS sustainability per share.
Growth trajectory
- Run-rate: A third consecutive $0.10 interim suggests a stable quarterly cadence in 2025; final (Q4) dividend is typically determined with full-year results and aligned to the 50% payout target basis.
- Wealth growth and fee momentum, plus upgraded NII guidance, underpin medium-term capacity to maintain or grow ordinary dividends, subject to capital needs and macro conditions.
Structural changes and capital allocation (dividend impact)
- Proposed privatisation of Hang Seng Bank: expected day-one CET1 impact of ~-125bps on completion (targeted 1H26). Management plans to offset via organic capital generation and a temporary pause in buy-backs; may dip below CET1 target at completion but intends to restore within range. Dividend payout target unchanged.
- Buy-backs: intention not to initiate share buy-backs temporarily in the context of the Hang Seng transaction; supports dividend capacity while CET1 rebuilds.
- Portfolio actions: multiple disposals (e.g., UK life insurance, French life insurance, German private banking), wind-down of non-strategic activities. Several Q4 impacts will be treated as material notable items and excluded from the payout ratio basis, limiting direct impact on ordinary dividends.
Risks and flags for dividend stability
- Legal provisions: $1.4bn booked in 3Q25 (Madoff-related and historical trading matters). Classified as material notable items and excluded from payout basis, but ongoing legal uncertainty is a background risk.
- Credit risk: Elevated ECL in Hong Kong commercial real estate and a normalized ECL run-rate (guidance ~40bps of average loans) could pressure earnings if conditions deteriorate.
- Market/Rate sensitivity: Lower market volatility dampened CIB fees; NII sensitive to policy rate paths in key markets.
- Capital event timing: Hang Seng privatisation completion could temporarily push CET1 below target; swift restoration depends on earnings trajectory and the continued pause of buy-backs.
Read more
HSBC Holdings Annual Dividend Yield - 4.31%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 06/03/2025 |
25/04/2025 |
4th Interim |
36.00¢ |
USX |
| 08/05/2025 |
20/06/2025 |
1st Interim |
10.00¢ |
USX |
| 14/08/2025 |
26/09/2025 |
2nd Interim |
10.00¢ |
USX |
| 06/11/2025 |
18/12/2025 |
3rd Interim |
10.00¢ |
USX |
Total (Annual Dividends Per Share):
49.19p
(Using exchange rate on 16/12/2025
$ = £0.74532)
Dividend Yield =
Annual Dividends Per Share (49.19p)
÷ Share Price (1141.8p)
= 4.31%
HSBC Holdings Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 06/11/2025 |
18/12/2025 |
3rd Interim |
10.00¢ |
USX |
| 14/08/2025 |
26/09/2025 |
2nd Interim |
10.00¢ |
USX |
| 08/05/2025 |
20/06/2025 |
1st Interim |
10.00¢ |
USX |
| 06/03/2025 |
25/04/2025 |
4th Interim |
36.00¢ |
USX |
| 07/11/2024 |
19/12/2024 |
3rd Interim |
10.00¢ |
USX |
| 15/08/2024 |
27/09/2024 |
2nd Interim |
10.00¢ |
USX |
| 09/05/2024 |
21/06/2024 |
1st Interim |
10.00¢ |
USX |
| 09/05/2024 |
21/06/2024 |
Special |
21.00¢ |
USX |
| 07/03/2024 |
25/04/2024 |
4th Interim |
31.00¢ |
USX |
| 09/11/2023 |
21/12/2023 |
3rd Interim |
10.00¢ |
USX |
| 10/08/2023 |
21/09/2023 |
2nd Interim |
10.00¢ |
USX |
| 11/05/2023 |
23/06/2023 |
Interim |
10.00¢ |
USX |
| 02/03/2023 |
27/04/2023 |
2nd Interim |
23.00¢ |
USX |
| 18/08/2022 |
29/09/2022 |
Interim |
9.00¢ |
USX |
| 10/03/2022 |
28/04/2022 |
2nd Interim |
18.00¢ |
USX |
| 19/08/2021 |
30/09/2021 |
Interim |
7.00¢ |
USX |
| 11/03/2021 |
29/04/2021 |
Interim |
15.00¢ |
USX |
| 27/02/2020 |
14/04/2020 |
4th Interim |
21.00¢ |
USX |
| 10/10/2019 |
20/11/2019 |
3rd Interim |
10.00¢ |
USX |
| 15/08/2019 |
26/09/2019 |
2nd Interim |
10.00¢ |
USX |
| 16/05/2019 |
05/07/2019 |
1st Interim |
10.00¢ |
USX |
| 21/02/2019 |
08/04/2019 |
4th Interim |
21.00¢ |
USX |
| 11/10/2018 |
21/11/2018 |
3rd Interim |
10.00¢ |
USX |
| 16/08/2018 |
27/09/2018 |
2nd Interim |
10.00¢ |
USX |
| 17/05/2018 |
05/07/2018 |
1st Interim |
10.00¢ |
USX |
| 22/02/2018 |
06/04/2018 |
4th Interim |
21.00¢ |
USX |
| 12/10/2017 |
22/11/2017 |
3rd Interim |
10.00¢ |
USX |
| 03/08/2017 |
20/09/2017 |
2nd Interim |
10.00¢ |
USX |
| 18/05/2017 |
05/07/2017 |
1st Interim |
10.00¢ |
USX |
| 23/02/2017 |
06/04/2017 |
4th Interim |
21.00¢ |
USX |
| 20/10/2016 |
06/12/2016 |
3rd Interim |
10.00¢ |
USX |
| 11/08/2016 |
28/09/2016 |
2nd Interim |
10.00¢ |
USX |
| 19/05/2016 |
06/07/2016 |
1st Interim |
10.00¢ |
USX |
| 03/03/2016 |
20/04/2016 |
4th Interim |
21.00¢ |
USX |
| 22/10/2015 |
03/12/2015 |
3rd Interim |
10.00¢ |
USX |
| 13/08/2015 |
02/10/2015 |
2nd Interim |
10.00¢ |
USX |
| 21/05/2015 |
08/07/2015 |
1st Interim |
10.00¢ |
USX |
| 05/03/2015 |
30/04/2015 |
4th Interim |
20.00¢ |
USX |
| 23/10/2014 |
10/12/2014 |
3rd Interim |
10.00¢ |
USX |
| 20/08/2014 |
09/10/2014 |
2nd Interim |
10.00¢ |
USX |
| 21/05/2014 |
10/07/2014 |
1st Interim |
10.00¢ |
USX |
| 12/03/2014 |
30/04/2014 |
4th Interim |
19.00¢ |
USX |
| 23/10/2013 |
11/12/2013 |
3rd Interim |
10.00¢ |
USX |
| 21/08/2013 |
09/10/2013 |
2nd Interim |
10.00¢ |
USX |
| 22/05/2013 |
11/07/2013 |
1st Interim |
10.00¢ |
USX |
| Year |
Interim |
Special |
Currency |
Total |
Change |
| 2024 |
|
21.000 |
USX |
82.000 |
54.710 |
| 2023 |
10.000 |
|
USX |
53.000 |
96.290 |
| 2022 |
9.000 |
|
USX |
27.000 |
22.720 |
| 2021 |
22.000 |
|
USX |
22.000 |
4.760 |
| 2020 |
|
|
USX |
21.000 |
-58.820 |
| 2019 |
|
|
USX |
51.000 |
0.000 |
| 2018 |
|
|
USX |
51.000 |
0.000 |
| 2017 |
|
|
USX |
51.000 |
0.000 |
| 2016 |
|
|
USX |
51.000 |
2.000 |
| 2015 |
|
|
USX |
50.000 |
2.040 |
| 2014 |
|
|
USX |
49.000 |
63.330 |
| 2013 |
|
|
USX |
30.000 |
|
HSBC Holdings Dividend Calculator
HSBC Holdings Dividend Growth
| Dividend Growth (1Y) |
-23.45%
|
| Dividend CAGR (5Y) |
35.62%
|
| Years of Growth |
3
|
| Payout Ratio |
–
|
| Buyback Yield |
4.25%
|
| Shareholder Yield |
8.63%
|
| P/E Ratio (TTM) | 16.08 |
|---|
| Forward P/E | 9.91 |
|---|
| P/FCF | – |
|---|
| Earnings Yield | 6.47% |
|---|
| FCF Yield | – |
|---|
| ROE | 9.29% |
|---|
| ROCE | – |
|---|
| Profit Margin | 30.52% |
|---|
| Operating Margin | 42.27% |
|---|
| Gross Margin | – |
|---|