www.investegate.co.uk/article.aspx?id=2 ... 0895Q&fe=1
RBS reported an operating profit before tax of £3,359 million and an attributable profit of £1,622 million for 2018 and proposes a final ordinary dividend of 3.5 pence per share and a 7.5 pence special dividend.
● Q4 2018 operating profit before tax of £572 million and an attributable profit of £286 million.
Continued track record of delivery
Income resilient in a competitive market:
● Income increased by £269 million, or 2.0%, compared with 2017. Excluding notable items, NatWest Markets and Central items, income was stable.
●2018 net interest margin of 1.98% decreased by 15 basis points compared with 2017. Q4 2018 net interest margin of 1.95%, or 1.97% excluding one-off items, was 2 basis points higher than Q3 2018.
Lower costs through continued transformation and increased digitisation:
● Compared with 2017, other expenses decreased by £278 million, or 3.6%, excluding one-off VAT releases in 2017, and FTEs reduced by 5.8%.
● We continue to transition from physical to digital services. 6.4 million customers now regularly use our mobile app, 16% higher than 2017. In UK PBB, total digital sales increased by 19%, representing 45% of all sales. In Commercial Banking, we successfully launched the Bankline mobile app in the Apple app store and our customers can now apply digitally for loans of up to £750,000, the largest value offered by a UK commercial bank, with approximately 50% of loans given a decision in principle in under 24 hours.
Stronger capital position:
● CET1 ratio of 16.2% increased by 30 basis points in 2018 and included: the impact of a £2 billion pre-tax pension contribution; the settlement with the Department of Justice; and full year ordinary and special dividends of £1.6 billion. Excluding these items, the CET1 ratio increased by 240 basis points driven by the profit and reduced RWAs.
● Active capital management reduced RWAs by £12.2 billion in 2018.
● RBS achieved a clear pass in the 2018 Bank of England stress test.
the important bit:
Dividends
In 2018 RBS paid an interim dividend of £241 million, or 2.0p per ordinary share. In addition, the company proposes a final dividend of 3.5p per ordinary share and a further special dividend of 7.5p per ordinary share.
The final and special dividends recommended by directors are subject to shareholders' approval at the Annual General Meeting on 25 April 2019. If approved, payment will be made on 30 April 2019 to shareholders on the register at the close of business on 22 March 2019. The ex-dividend date will be 21 March 2019. No dividend was paid in 2017.
So I'll be getting enough to pay for a round rather than the single pint I could have bought with the interim divi
