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 +0.85% /zigman2/quotes/206994749/delayed CH:UBSG +1.53% and Credit Suisse /zigman2/quotes/202835784/composite CS -3.61% /zigman2/quotes/205269278/delayed CH:CSGN -2.99% 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

$ 15.95

+0.14 +0.85%

Volume: 24,074

March 2, 2021 9:41a

P/E Ratio

8.85

Dividend Yield

2.32%

Market Cap

$56.57 billion

Rev. per Employee

N/A

/zigman2/quotes/206994749/delayed

Add to watchlist CH:UBSG

UBS Group AG

CH : Switzerland: SWX

CHF 14.63

+0.22 +1.53%

Volume: 8.71M

March 2, 2021 3:26p

P/E Ratio

8.75

Dividend Yield

2.31%

Market Cap

CHF51.68 billion

Rev. per Employee

N/A

/zigman2/quotes/202835784/composite

Add to watchlist CS

Credit Suisse Group AG ADR

US : U.S.: NYSE

$ 14.17

-0.53 -3.61%

Volume: 184,263

March 2, 2021 9:41a

P/E Ratio

13.47

Dividend Yield

0.80%

Market Cap

$35.24 billion

Rev. per Employee

N/A

/zigman2/quotes/205269278/delayed

Add to watchlist CH:CSGN

Credit Suisse Group AG

CH : Switzerland: SWX

CHF 12.98

-0.40 -2.99%

Volume: 8.60M

March 2, 2021 3:26p

P/E Ratio

12.32

Dividend Yield

2.25%

Market Cap

CHF32.19 billion

Rev. per Employee

N/A