Royal Bank of Scotland Group Plc
Chief Executive Fred Goodwin, who in December said he sees
“plenty of opportunity” for purchases this year, will have more
cash to spend after making a final dividend payment tied to the
$38 billion acquisition of National Westminster Bank Plc in 2000. Royal Bank is the parent company of Citizens Bank, based in Providence.
Royal Bank, the U.K.’s second-biggest bank by assets, paid
$2.7 billion to shareholders in a special
dividend in the second half, dragging down earnings 33 percent,
according to a Bloomberg News survey of 10 analysts. The dividend
payments totaled 2.7 billion pounds over three years.
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Goodwin, 45, can now use the cash the Edinburgh-based bank
generates to make purchases, said investors including Colin
Morton of BWD Rensburg. Earlier this month, Goodwin agreed to buy
the credit-card unit of Connecticut-based People’s Bank for $2.66
billion to gain 1.1 million new customers in the United States.
Bloomberg News
