10/12/2018, 12:31 PM (Source:
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RBS pays dividend for first time in 10 years

Royal Bank of Scotland Group plc announced on Friday that it made a dividend payment to ordinary shareholders for the first time in 10 years. The bank noted it paid 2 pence per share to some 190,000 shareholders, including the UK Government Investments (UKGI), bringing the total sum of payments to around £240million.

"I’m pleased to be able to pay a dividend to our shareholders; a small return after their many years of patience and a testament to the hard work of everyone at this bank. This is another important milestone in our turnaround, almost ten years to the day that RBS was rescued by the British taxpayer," RBS CEO Ross McEwan stated.

In August, RBS noted it will pay the dividend to shareholders once its settlement with the United States Department of Justice in a mortgage fraud case is finalized. Days later, the bank agreed with the DoJ to pay $4.9 billion for misrepresenting mortgages it sold to investors in the run-up to the 2008 financial crisis.

RBS shares jumped 2.01% at 12:16 pm CET on the announcement.

Breaking the News / NP