Singapore markets close in 2 hours 36 minutes
  • Straits Times Index

    2,998.61
    +8.21 (+0.27%)
     
  • Nikkei

    28,633.46
    +391.25 (+1.39%)
     
  • Hang Seng

    29,432.30
    +569.53 (+1.97%)
     
  • FTSE 100

    6,720.65
    -15.06 (-0.22%)
     
  • BTC-USD

    36,519.21
    +77.48 (+0.21%)
     
  • CMC Crypto 200

    718.32
    -16.82 (-2.29%)
     
  • S&P 500

    3,768.25
    -27.29 (-0.72%)
     
  • Dow

    30,814.26
    -177.24 (-0.57%)
     
  • Nasdaq

    12,998.50
    -114.10 (-0.87%)
     
  • Gold

    1,837.10
    +7.20 (+0.39%)
     
  • Crude Oil

    52.22
    -0.14 (-0.27%)
     
  • 10-Yr Bond

    1.0970
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,612.30
    +2.78 (+0.17%)
     
  • Jakarta Composite Index

    6,352.38
    -37.46 (-0.59%)
     
  • PSE Index

    7,198.45
    -4.99 (-0.07%)
     

UniCredit renews commitment to boosting shareholder returns - chairman

·1-min read
A view of the Unicredit headquarters of which many employees are working from home due to a coronavirus outbreak, in Milan

MILAN (Reuters) - UniCredit <CRDI.MI> remains strongly committed to increasing returns for investors in Italy's biggest bank, its chairman said, following a decision to suspend dividend payments and a share buyback to comply with supervisory guidance.

The decision on payouts prompted by the regulatory response to the new coronavirus crisis has come as a blow to UniCredit CEO Jean Pierre Mustier's strategy of focusing on boosting shareholder returns after shelving plans for a cross-border merger.

"This objective will be achieved through a renewed determination, also following the board's decision not to pay dividends until at least October 2020 and to withdraw the request for a share buyback," Chairman Cesare Bisoni said in the text of a speech delivered at Thursday's annual general meeting.

The AGM is being held behind closed doors due to the pandemic.

(Reporting by Valentina Za; editing by Agnieszka Flak)