UBS To Boost Its Dividend By 10%; Expects Buybacks To Surpass $5B

UBS Group AG UBS looks to increase its dividend by 10% to $0.55 per share, adding its board intends to propose at the 2023 annual meeting and expects its 2022 share repurchases to exceed $5 billion.
As of September 9, UBS bought back $4.1 billion in shares.
UBS would guide next year's capital return with fourth-quarter earnings and expects "to continue to have share repurchases and a progressive dividend."
ZKB analyst Michael Klien assumed that this increase is related to the capital released due to the termination of the Wealthfront acquisition, Reuters reports.
Vontobel analyst Andreas Venditti said the news confirmed his investment case that higher returns on capital result in attractive returns to shareholders in the form of dividends and share buybacks.
Price Action: UBS shares traded higher by 2.55% at $17.31 in the premarket on the last check Tuesday.
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