HSBC 2008 Annual Report Download - page 315

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HSBC reports on its sustainability strategy and
progress annually in the HSBC Sustainability Report
which is verified by an external auditor and prepared
using the Global Reporting Initiative.
PricewaterhouseCoopers has been appointed for the
2008 reporting period and will verify the Group
sustainability strategy and governance structure, the
content of the report, carbon neutrality status and
adherence to the Equator Principles. The HSBC
Sustainability Report 2008 will be issued on 22 May
2009 and will be available at
www.hsbc.com/sustainability
Health and safety
The maintenance of appropriate health and safety
standards throughout HSBC remains a key
responsibility of all managers and HSBC is
committed to proactively managing all health and
safety risks associated with its business. HSBC’s
objectives are to identify, remove, reduce or control
material risks of fires and of accidents or injuries to
employees and visitors.
Group standards, instructions and related
policies and procedures are set by Group Corporate
Real Estate and implemented by Health, Safety and
Fire Co-ordinators (‘HSFCs’) based in each country
in which HSBC operates. The HSFC may call upon
regional and Group resource by way of support at
any time.
Despite the considerable international pressure
on terrorist networks over the past few years, the
global threat from terrorism persists. HSBC remains
committed to maintaining its preparedness and to
ensuring the highest standards of health and safety
wherever in the world it operates.
Group Security provides regular risk
assessments in areas of increased risk to assist
management in judging the level of terrorist threat.
In addition, Regional Security functions conduct
regular security reviews to ensure measures to
protect HSBC staff, buildings, assets and
information are appropriate for the level of threat.
Supplier payment policy
The Company does not currently subscribe to any
code or standard on payment practice. It is the
Company’s policy, however, to settle terms of
payment with those suppliers when agreeing the
terms of each transaction, to ensure that those
suppliers are made aware of the terms of payment,
and to abide by the terms of payment.
It is HSBC Holdings’ practice to organise
payment to its suppliers through a central accounts
payable function operated by its subsidiary, HSBC
Bank. Included in the balance with HSBC Bank
is the amount due to trade creditors which, at
31 December 2008, represented 22 days’ average
daily purchases of goods and services received from
such creditors, calculated in accordance with the
Companies Act 1985, as amended by Statutory
Instrument 2007/3495.
Dividends, shareholders and
meetings
Dividends for 2008
First, second and third interim dividends for 2008,
each of US$0.18 per ordinary share, were paid on
9 July 2008, 8 October 2008 and 14 January 2009
respectively. Note 12 on the Financial Statements
gives more information on the dividends declared in
2008. On 2 March 2009, the Directors declared a
fourth interim dividend for 2008 of US$0.10 per
ordinary share in lieu of a final dividend, which will
be payable on 6 May 2009 in cash in US dollars, or
in sterling or Hong Kong dollars at exchange rates to
be determined on 27 April 2009, with a scrip
dividend alternative. As the fourth interim dividend
for 2008 was declared after the balance sheet date it
has not been included as a creditor at 31 December
2008. The reserves available for distribution at
31 December 2008 are US$18,838 million.
A quarterly dividend of US$15.50 per 6.20 per
cent non-cumulative US dollar preference share,
Series A (‘Series A dollar preference share’),
equivalent to a dividend of US$0.3875 per Series A
American Depositary Share, each of which
represents one-fortieth of a Series A dollar
preference share, was paid on 17 March, 16 June,
15 September and 15 December 2008.
Dividends for 2009
The proposed timetable for interim dividends in
respect of 2009 on the ordinary shares of US$0.50 is
set out in the Shareholder Information section on
page 448.
A quarterly dividend of US$15.50 per Series A
dollar preference share (equivalent to a dividend of
US$0.3875 per Series A American Depositary Share,
each of which represents one-fortieth of a Series A
dollar preference share) was declared on 11 February
2009 for payment on 16 March 2009.
Communication with shareholders
Communication with shareholders is given high
priority. Extensive information about HSBC’s
activities is provided in the Annual Report and