WASHINGTON (dpa-AFX) - UBS Group AG (UBS), a Swiss investment bank and financial services firm, on Thursday announced that it is committed to increase ordinary dividend per share by 10 percent for 2025. The Board has approved buyback and cancel shares worth up to $3.5 billion over the next two years. The board also re-elected Colm Kelleher as Chairman.
Shares of UBS are dropping in the pre-market trading.
Ahead of the Annual General Meeting, bank reaffirmed its commitment to return excess capital to shareholders through share buybacks, with plans to repurchase $1 billion worth of shares in the first half of 2025.
Further, the bank said it also plans to repurchase up to an additional $2 billion in the second half.
The board has proposed to re-elect Colm Kelleher, Lukas Gähwiler, Jeremy Anderson, William C. Dudley, Patrick Firmenich, Fred Hu, Mark Hughes, Gail Kelly, Julie Richardson, and Jeanette Wong for another one-year term on the board.
In pre-market trading, UBS is 3.03% lesser at $27.56 on the Nasdaq.
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