Standard Chartered (GB:STAN) has released an update.
Standard Chartered PLC has received a favorable court ruling that allows it to adopt an alternative benchmark rate for calculating dividends on its 6.409% non-cumulative redeemable preference shares. Following the cessation of the USD LIBOR, dividends will now be calculated using the three-month CME Term SOFR plus a credit adjustment spread. This decision provides clarity and assurance to investors regarding future dividend calculations.
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