HSBC Holdings  posted an unexpected fourth-quarter loss, its first since at least 2009, as revenue dropped and loans to oil and gas companies drove a jump in impairment charges.

The shares fell as much as 5.4 percent as Europe’s largest bank reported a pretax loss of $858 million. Excluding one-time items such as a $773 million charge on movements in the fair value of its debt, the lender had a pretax profit of $1.9 billion. Both measures fell short of analysts’ estimates. Impairments on bad loans and credit-risk provisions increased by 32 percent to $1.64 billion in the quarter. That took full-year charges to $3.7 billion, exceeding the consensus analyst estimate of $3 billion.

HSBC dropped 3.1 percent at 11:00 a.m. in London, extending its loss this year to 19 percent.

The bank declared a dividend of 21 cents for the fourth quarter, taking the total for the year to 51 cents. That’s 1 cent more than last year, maintaining the bank’s progressive dividend policy valued by investors. Operating costs in the period amounted to $11.5 billion, down from $11.9 billion a year earlier. HSBC cut the annual bonus pool about $100 million to $3.5 billion, as overall employee compensation fell to $19.9 billion from $20.4 billion, according to the annual report.




Dividends & Splits

Forward Annual Dividend Rate4: 2.00
Forward Annual Dividend Yield4: 6.22%
5 Year Average Dividend Yield4 4.72%


Income Statement
Revenue (ttm): 58.89B
Revenue Per Share (ttm): 15.13
Qtrly Revenue Growth (yoy): -3.80%


J.Mason ♦