07:23 AM EDT, 04/30/2024 (MT Newswires) -- HSBC Holdings ( HSBC ) reported Q1 earnings Tuesday of $0.54 per diluted share, up from $0.52 a year earlier.

Revenue for the quarter ended March 31 was $20.75 billion, up from $20.17 billion a year earlier.

No analyst estimates were available for comparison.

The company also said that following the sale of its Canadian banking business, the board approved a special dividend of $0.21 per share, payable in June alongside a first interim dividend of $0.10 per share.

Additionally, HSBC ( HSBC ) said it plans to launch a share buyback of up to $3 billion in May.

Separately, the company said Chief Executive Noel Quinn will retire after nearly five years in the post. The company said the board has started a formal search for a successor.

Shares of the company were up more than 4% in recent Tuesday premarket activity.

Price: 44.03, Change: +1.85, Percent Change: +4.39