ZURICH (Reuters) – UBS will continue to have a progressive dividend and share buyback policy next year, Chief Financial Officer Sarah Youngwood said on Tuesday, despite the Swiss bank’s expecting a slowdown in the global economy.
“We continue to believe where we are with excess capital…we will continue to have a progressive dividend and share repurchases next year,” Youngwood told the Barclays Financial Services Conference.
Earlier on Tuesday UBS said its plans to increase its dividend by 10% and expects 2022 share repurchases to exceed its $5 billion goal, boosting payouts from its strong balance sheet after scrapping a $1.4 billion deal to buy automated wealth management provider Wealthfront.
(Reporting by John Revill; Editing by Michael Shields)
