- Targets 12 per cent return on equity
- Shares are still well off the pace
Pruning an overgrown corporate structure and boosting returns were the main themes to emerge from Standard Chartered's (STAN) latest pitch to investors. Along with a big hike in the dividend and a new $1bn (£787mn) share buyback programme, the emerging market specialist sounded more serious about rescuing its languishing share price and streamlining its operations. The shares climbed 8 per cent in response to the buyback and cost-cutting plan.