Dividends on the Series A preference shares will accrue from September 22, 2005 and will be payable when, as and if declared by our board of directors quarterly on the 15th calendar day of March, June, September and December of each year, commencing December 15, 2005. Dividends on the Series A preference shares will be payable at a rate of 6.20% per annum.
Dividends on the Series A preference shares will be non-cumulative. Accordingly, if for any reason our board of directors does not declare a dividend on the Series A preference shares for a dividend period, we will not pay a dividend for that dividend period on the dividend payment date for that dividend period or at any future time, whether or not our board of directors declares dividends on the Series A preference shares for any subsequent dividend period. However, we may not declare or pay dividends or distributions on any class of our shares ranking lower in the right to dividends than the Series A preference shares and we may not redeem or purchase in any manner any of our other shares ranking equal or lower than the Series A preference shares, unless we have paid in full, or set aside an amount to provide for payment in full, of the dividends on the Series A preference shares for the then-current dividend period.
We may redeem the Series A preference shares on any date on or after December 16, 2010, in whole (but not in part only), at a redemption price equal to $1,000 per Series A preference share (which is equal to $25 per Series A American depositary share) plus accrued and unpaid dividends for the then-current dividend period to the date fixed for redemption, subject to the prior consent of the UK Financial Services Authority (the ÙFSAˆ).
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HSBC Holdings is a bank holding company. Through its subsidiaries, Co. provides a range of banking and related financial services to its customers in its three global businesses: Wealth and Personal Banking, which provides a range of retail banking and wealth products such as current and savings accounts; Commercial Banking, which provides a range of products and services including credit and lending, international trade and receivables finance, treasury management and liquidity solutions, commercial insurance and investments; and Global Banking and Markets, which provides financial solutions to primary government, corporate and institutional clients and private investors worldwide. Preferreds: HUSI.PRD, HUSI.PRZ, HUSI.PRF, HSFC.PRB, HSBC.PRA, HUSI.PRG, HUSI.PRH, HSEB Open the HSBC Information Page » |
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