UBS to Split Annual Dividend Into 2 Payouts
UBS Group (NYSE: UBS) will split its annual divided for 2020 into two payouts, in compliance with a request from FINMA, the Swiss Financial Market Supervisory Authority.
The Zurich-based bank had previously approved a $0.73 dividend. However, FINMA asked that banks under its jurisdiction reconsider their dividend plans as a precautionary measure to deal with the uncertainties related to the coronavirus crisis.
UBS said today that it would pay out half the dividend, $0.365, on May 7, followed by a special dividend reserve of $0.365 in November. Shareholders will vote on the May dividend payment at the April 29 annual meeting. The second payment will be voted on by shareholders at special meeting on Nov. 19 after UBS' third-quarter earnings report.
Source Fool.com
