BUSINESS LIVE: UK dividends soar to £34.9bn; HSBC reports profits surge

BUSINESS LIVE: UK dividends soar to £34.9bn; ITV eyes Channel 4 amid privatisation rumours; HSBC reports profits surge

Dividends from UK-listed firms soared over the past three months to £34.9billion, an 89 per cent increase year on year, according to data from financial tech firm Link Group.

The increase was attributed to ‘large one-off special dividends’, however underlying dividends, which do not include specials, also surged 53 per cent to £27.7billion.

ITV is eyeing up Channel 4, which could be privatised following a Government review.

FTSE 100-listed ITV is among several potential bidders circling the channel, which took The Great British Bake Off from the BBC.

HSBC reported a surprise 74 per cent rise in third quarter profit as concerns about pandemic-related bad loan receded, allowing it to announce a share buyback of $2billion.

However, the bank said its cost projections for 2022 had increased to $32billion from $31billion, due to the pressures of inflation.

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HSBC saw profits grow by 74 per cent rise in the third quarter of 2021