UBS to raise 2022 dividend, says buybacks will exceed $5 billion goal

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UBS Group AG said Tuesday that it will raise the accrual for the 2022 ordinary dividend to $0.55 a share from $0.51.

The adjustment marks an increase of 10% from the previous year’s dividend, the Swiss bank UBS, +1.93% UBSG, +1.49% said.

The board of directors plans to propose the dividend for approval by shareholders at the annual general meeting in 2023, UBS said.

UBS said its expects its share repurchases for 2022 to exceed the $5 billion goal it had previously set. It said it has bought back $4.1 billion of shares as of Friday.

Write to Maitane Sardon at maitane.sardon@wsj.com

This article was originally published by Marketwatch.com. Read the original article here.

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