Royal Bank of Scotland said on Friday that it would pay its first dividend in a decade, a milestone for a bank that was brought to its knees by the financial crisis.
RBS, which was bailed out by British taxpayers and remains under the control of the UK government, said it intended to pay a dividend of 2 pence a share subject to finalizing a fine from the US Justice Department for packaging toxic mortgage-backed securities. The bank said it envisaged share buybacks and ramping up the dividend to a 40% payout ratio, subject to balance sheet stress-test results and the impact of Brexit.