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.
Buyback Target
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.
