Royal Bank Shares Rocket On Stock Pledge
Summary
A promise to spend up to pounds 1 billion buying back stock this year with a 29 per cent increase in the final dividend sent the lacklustre shares in the Royal Bank of Scotland ablaze yesterday in a nervous stock market.
They finished 50p higher at 1909p after earlier touching 1949p. Full-year profits of pounds 7,936 billion, 21 per cent up on 2004 were in line with City expectations as was a return on equity of 18.2 per cent. The bank said 42 per cent of this profit was earned overseas.See the full content of this document
Extract
Royal Bank Shares Rocket On Stock Pledge
The surprise was the Royal Bank's move to return so much of the capital it has generated to shareholders, although Sir Fred Goodwin, chief exec...
See the full content of this document