One of Switzerland’s most successful banking stocks will be split. And a top global stock index has decided to add the company to its basket of firms.
Banque Cantonale Vaudoise (BCV), one of Switzerland’s biggest cantonal banks, will split the shares 10 for 1 on May 28, 2020, when the market opens in the morning, according to a statement on Monday. Shareholders accepted the split at the annual general meeting with 98 percent of votes cast.
Furthermore, MSCI will add the stock to its world index on May 29, 2020. This step will increase the visibility on the financial market.
The share of the bank has gained 8.5 percent this year alone and the company is also known for its generous dividend payment policy.
