Some minority investors of HSBC are reportedly demanding a vote at the 2023 shareholder meeting on a decision about a spin-off of the Asian business as well as higher dividends.
At least 100 retail HSBC investors have called for a vote in the bank’s shareholder meeting in May, as a «Reuters» report citing a letter sent to the British lender on February 20.
The minority investors proposed one resolution on whether or not HSBC should devise a formal plan to boost returns by spinning off its Asian business and another resolution on increasing dividends to at least pre-Covid levels of 51 cents per share. In 2022, HSBC distributed 32 cents per share, the highest in four years.
«The shareholders will need to demonstrate that the requisition is valid before it can be formally accepted,» a spokesperson for HSBC said.
