UBS's Latest Gift to Shareholders
In good news for shareholders, Switzerland's largest bank boosts its dividend and is on track to exceed buyback goals.
UBS said that it will increase its dividend by 10 percent to $0.55 on ordinary dividends from $0.51 for 2022, with the board intending to propose the dividend for approval at the annual general meeting in 2023, the bank said in a statement Tuesday.
In addition, UBS expects share repurchases to exceed its $5 billion goal for 2022, and as of 9 September 2022, the bank has bought back $4.1 billion of shares. UBS will guide next year’s capital return in its fourth-quarter earnings presentation and expect to continue to have share repurchases and a progressive dividend.
