HSBC To Pay Special Dividend On Sale Of Canadian Business

HSBC Bank (HSBC) said it is planning a special dividend payment of $0.21 U.S. per share after it completes the sale of its banking business in Canada later this year. HSBC said that the special dividend payment would come in early 2024 if the Canadian sale closes as expected at the end of 2023. The London, England-based bank is in the process of selling its Canadian banking business to Royal Bank of Canada (RY) for $10 billion U.S. HSBC announced that it is exiting the Canadian market last November.News of the special dividend comes as HSBC reported a fourth-quarter profit of $5.2 billion U.S…