LONDON -- The shares of Standard Chartered rallied 50 pence to 1,830 pence this morning after the bank lifted its full-year dividend by 10.5%.
A $0.84 per share payout was revealed for 2012, up from the $0.76 per share declared for 2011.
The dividend news accompanied full-year results that showed operating income up 8% to 19 billion pounds and pre-tax profits up 1% to $6.8b. Excluding a $667m fine paid to various American authorities for processing Iranian transactions, profits advanced 11%.
The FTSE 100 member said 2012 had been its tenth year of unbroken growth in income, profit, and dividends, with the last decade showing a compound growth rate of at least 15%.
Sir Jon Peace, Standard Chartered's chairman, said:
"Standard Chartered remains a growth story and we are sticking to our strategy, focusing on the basics of good banking, in markets we know well, with clients and customers with whom we have deep relationships. We are entering the new year with strong momentum in both of our businesses and the Board remains confident for the year ahead."
Sir John also said the group's bonus pool had been reduced by 7% to reflect the group's performance and the impact of the U.S. fines.
Based on today's figures, Standard Chartered is valued at 12 times earnings and offers a 3% income.
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The article Standard Chartered Raises Dividend By 10.5% originally appeared on Fool.com.
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