UBS reports profit in Q4, increases dividend, plans share buyback of up to $3 billion

From Nasdaq: 2025-02-04 01:12:10

UBS Group AG reported a profit of $770 million in the fourth quarter, compared to a loss of $279 million in the previous year. Total revenues grew 7% to $11.64 billion, with underlying profit before tax at $1.77 billion. The company plans to propose a dividend of $0.90 per share for 2024, an increase of 29% from last year. UBS also aims to repurchase $1 billion of shares in the first half of 2025 and potentially up to $2 billion in the second half. The firm is on track to deliver around $13 billion in gross cost reductions by end-2026. CEO Sergio Ermotti is confident in the company’s ability to achieve financial targets and growth initiatives.



Read more at Nasdaq: UBS Turns To Profit In Q4; Lifts Dividend, Plans Up To $3 Bln Share Buyback