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Before the opening bell on Monday, London-based bank HSBC Holdings (HSBC ) released its financial results for FY2014.
HSBC’s CEO Stuart Gulliver commented: “2014 was a challenging year in which we continued to work hard to improve business performance while managing the impact of a higher operating cost base. Profits disappointed, although a tough fourth quarter masked some of the progress made over the preceding three quarters.”
The ADR version of HSBC shares currently pays a 50 cent quarterly dividend. We expect the next dividend to be declared in the coming weeks.
Shares of HSBC were down $2.54, or 5.44%, during pre-market trading Monday. The stock is down 1.16% YTD.