“Standard Chartered Plc (STAN), Britain’s second-largest lender by market value, cut bonuses by 7 percent and boosted its dividend after it was fined $667 million for U.S. sanctions violations. The shares rose.
The bank will pay a final dividend of 56.77 cents a share, bringing the total for the year to 84 cents, 11 percent more than in 2011, the London-based lender said in a statement today. Pretax profit rose to $6.88 billion from $6.78 billion in 2011, beating the $6.84 billion estimate of 23analysts surveyed by Bloomberg and marking the firm’s 10th consecutive year of record results. Revenue advanced 8 percent to $19.1 billion.
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