On Tuesday, when the Swiss bank announced a projected 10 per cent rise in its annual dividend, shares of UBS Group AG (SIX:UBSG) increased.
If shareholders approve the change, UBS stated that it would change its ordinary dividend for 2022 to $0.55 per share from $0.51.
The business also anticipates share repurchases to exceed its initial full-year target of $5 billion this year. In 2022 alone, the lender bought back $4.1 billion shares.
At our fourth quarter earnings presentation, we will guide next year’s capital return and anticipate continuing share repurchases and a progressive dividend, according to UBS.
At our fourth quarter earnings presentation, we will guide next year’s capital return and anticipate continuing share repurchases and a progressive dividend, according to UBS.
The announcement follows UBS’ earlier this month decided to end a merger arrangement with American fintech company Wealthfront.