BUZZ-BOC Hong Kong hits more than 3-year high on 2024 profit, dividend rise

Reuters2025-03-27
BUZZ-BOC Hong Kong hits more than 3-year high on 2024 profit, dividend rise

** BOC Hong Kong Holdings 2388.HK jumps 8% to HK$32.25, highest since February 2022

** Stock set for biggest one-day pct rise since April 2, 2024; top pct gainer on Hang Seng Finance Index .HSNF, which is up 0.7%

** Bank of China's 3988.HK HK banking unit posts 12% y/y rise in 2024 profit attributable

** Proposes final dividend of HK$1.419 for 2024, bringing FY dividend payout ratio to 55% - up 1 percentage point from 2023

** Says board proposed to declare dividends quarterly from 2025

** Morningstar says bank reported annualized return on equity of 10.9% for H2 of 2024, well above expectation of ~8%

** Bank of China's Hong Kong stock slips 0.4% to HK$4.6, while Shanghai shares 601988.SS gain 0.9% to 5.53 yuan

** BOC Hong Kong Holdings gains 28.7% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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