The new program comes after the completion of the 2022 buyback, which saw 298.5 million of it shares purchased.
"As previously communicated, in 2024 we expect to repurchase up to USD 1bn of our shares, commencing after the completion of the merger of UBS AG and Credit Suisse AG which is expected to occur by the end of the second quarter," the bank said in a statement.Get Philly local news, weather forecasts, sports and entertainment stories to your inbox.The new program follows the completion of the 2022 buyback, during which 298.5 million of it shares were purchased. This represented 8.
Buybacks take place when firms purchase their own shares on the stock exchange, reducing the portion of shares in the hands of investors. They offer a way for companies to return cash to shareholders — along with dividends — and usually coincide with a company's stock moving higher, as shares get scarcer.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »