Royal Bank of Scotland (RBS) has paid £1.2bn to remove an instrument ensuring the UK government receives dividend payouts before any other investor.
The removal of the Treasury's dividend access share (DAS) takes the government-backed bank one step closer to restarting dividends for shareholders, The Telegraph reports. RBS chief executive Ross McEwan said: "On the back of progress we have made in strengthening the bank's balance sheet in recent years, I am pleased that we are today able to repay the UK government £1.193bn to finally retire the dividend access share. "This is another important milestone in our plan to resume capital distributions to our shareholders, and represents one less hurdle in our path to build the number-on...
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