Royal Bank of Scotland makes a deal with the Government to continue dividend payments
ROYAL Bank of Scotland has struck a deal to buy back the Government's "golden share" allowing it to resume dividend payments in the future.
The taxpayer-backed lender has agreed with the Treasury on the cancellation of the so-called dividend access share (DAS) created in its 2009 bailout.
Under the deal RBS will pay an initial £320million followed by £1.18billion before dividend payouts resume.
Chief executive Ross McEwan said the agreement was "a vote of confidence in the progress we have made in rebuilding RBS".