Swiss regulator says it welcomes UBS and Credit Suisse move to delay half their dividends

The Swiss Financial Market Supervisory Authority said it welcomed the move by UBS /zigman2/quotes/206172872/composite UBS +1.39% /zigman2/quotes/206994749/delayed CH:UBSG +0.96% and Credit Suisse /zigman2/quotes/202835784/composite CS +0.97% /zigman2/quotes/205269278/delayed CH:CSGN +0.22% to postpone half of their planned dividend distributions for 2019 to the fourth quarter. "FINMA welcomes this significant step, which was taken after FINMA wrote to the boards of directors of both banks asking them to reconsider their dividend plans. FINMA views this precautionary measure taken by both institutions as a way of simultaneously dealing with the major uncertainties associated with the COVID-19 crisis and addressing shareholders' expectations," it said in a statement.

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Add to watchlist UBS

UBS Group AG

US : U.S.: NYSE

$ 12.01

+0.16 +1.39%

Volume: 1.42M

Aug. 4, 2020 1:56p

P/E Ratio

9.73

Dividend Yield

1.52%

Market Cap

$42.42 billion

Rev. per Employee

$703,264

/zigman2/quotes/206994749/delayed

Add to watchlist CH:UBSG

UBS Group AG

CH : Switzerland: SWX

CHF 11.00

+0.11 +0.96%

Volume: 11.29M

Aug. 4, 2020 5:31p

P/E Ratio

9.15

Dividend Yield

0.00%

Market Cap

CHF39.08 billion

Rev. per Employee

CHF688,257

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Add to watchlist CS

Credit Suisse Group AG ADR

US : U.S.: NYSE

$ 10.88

+0.10 +0.97%

Volume: 1.18M

Aug. 4, 2020 1:55p

P/E Ratio

6.88

Dividend Yield

0.51%

Market Cap

$25.30 billion

Rev. per Employee

$743,916

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Add to watchlist CH:CSGN

Credit Suisse Group AG

CH : Switzerland: SWX

CHF 10.01

+0.02 +0.22%

Volume: 13.21M

Aug. 4, 2020 5:31p

P/E Ratio

6.04

Dividend Yield

1.39%

Market Cap

CHF23.31 billion

Rev. per Employee

CHF728,043