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Royal Bank of Scotland jumps as it pays out first dividend since 2008 financial crisis

The dividend was reinstated in August’s half-year results presentation, but investors received their pay-out today

rbs
The total pay-out was £240mln

Royal Bank of Scotland Group PLC (LON:RBS) has made its first dividend payment since the 2008 financial crisis.

Around 190,000 shareholders, including the UK government, have received a total pay-out of £240mln.

READ: Twitter users suggest new name for RBS as bank considers re-brand

The dividend was reinstated back in August’s interim results but was paid out today.

“I’m pleased to be able to pay a dividend to our shareholders; a small return after their many years of patience and a testament to the hard work of everyone at this bank,” said chief executive Ross McEwan.

“This is another important milestone in our turnaround, almost ten years to the day that RBS was rescued by the British taxpayer.”

He added: “We have created a smaller, safer bank that is generating more sustainable profits. Our capital position is above our target and we are also looking to return any excess capital as soon as possible to shareholders.”

Shares were up 2% to 249.1p in late-morning trading on Friday.

Quick facts: Royal Bank of Scotland

Price: 123.45 GBX

LSE:RBS
Market: LSE
Market Cap: £14.93 billion
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