Spotted in the Guardian live blog...
Not sure if they have ruled out pay raises.. But bonus are off the table this YEAR.
From HSBC IR media section..Britain’s biggest banks have agreed to scrap payouts to shareholders and are expected not to pay out any bonuses to senior staff, after a request from the Bank of England.
The Prudential Regulation Authority, which is part of the Bank, said Standard Chartered, NatWest, Santander, the Royal Bank of Scotland, Nationwide, Lloyds, HSBC and Barclays have all agreed to drop their dividends and share buybacks until the end of the year, and cancel outstanding dividends from 2019.
The Board has therefore met to discuss the written request from the PRA and, in response to the request, has cancelled the fourth interim dividend of US$0.21 per ordinary share, which was scheduled to be paid on Tuesday, 14 April 2020.
The Board regrets the impact this cancellation will have on our shareholders, including our retail shareholders in Hong Kong, the UK and elsewhere.
I expect many more companies to reduce or drop their dividends this year.. Will try and keep track of some highlights here..