RBS pays div­i­dend

Daily Express - - CITY & BUSINESS -

ROYAL Bank of Scot­land has paid its first div­i­dend since its £45bil­lion bailout a decade ago.

The lender, still 62 per cent govern­ment-owned, paid 2p per share to 190,000 share­hold­ers, cost­ing £240mil­lion. The Trea­sury will re­ceive about £150mil­lion.

The pay­out fol­lowed the bank’s near-£4bil­lion US set­tle­ment this year over toxic mort­gages.

Chief ex­ec­u­tive Ross McEwan hailed a “mile­stone” in the RBS turn­around, adding: “We have cre­ated a smaller, safer bank gen­er­at­ing more sus­tain­able profits. We look to re­turn ex­cess cap­i­tal to share­hold­ers as soon as pos­si­ble.”

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