Royal Bank of Scotland hikes its full-year dividend.

February 24, 2008 at 6:54 am | Posted in finance | Leave a comment
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THE Royal Bank of Scotland will attempt to silence its critics this week by announcing a hike in its full-year dividend.

Alongside record pretax profits of more than £10 billion, the bank is understood to be planning an increase of about 5% in the annual payout.

The move follows dividend hikes announced last week by Barclays and Lloyds TSB � as predicted by The Sunday Times.

It also follows intense market speculation suggesting that RBS would have to raise new capital to repair its balance sheet following its acquisition of part of Dutch bank ABN Amro last year

The raised dividends from RBS, Barclays and Lloyds TSB provide further evidence that Britain’s major high-street banks have weathered the credit crunch better than rivals in the US and Europe.

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