Fubotv earnings beat by $0.10, revenue topped estimates
LONDON - HSBC Holdings plc (NYSE:HSBC) (LSE:HSBA) announced on Tuesday that the High Court of England and Wales has confirmed the cancellation of $14.81 billion from its share premium account and $1.76 billion from its capital redemption reserve.
The capital reduction, which was approved by shareholders at the company’s Annual General Meeting on May 2, 2025, will become effective upon registration of the court order and statement of capital with the Registrar of Companies.
According to the bank, the purpose of this financial restructuring is to increase its distributable reserves, providing greater flexibility for potential shareholder returns through dividends or share buybacks in the coming years.
The capital reduction involves no change to the number of issued shares, share ownership, or the bank’s overall capital position. It represents an accounting adjustment that transfers amounts from non-distributable reserves to distributable reserves.
HSBC, headquartered in London, operates in 58 countries and territories globally. The banking giant reported assets of $3.05 trillion as of March 31, 2025.
The announcement was made in a regulatory filing based on a press release statement from the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.