Advertisement
Singapore markets closed

  • Straits Times Index

    3,290.70
    +24.75 (+0.76%)
     

  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     

  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     

  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     

  • Bitcoin USD

    60,725.38
    -2,085.90 (-3.32%)
     

  • CMC Crypto 200

    1,261.13
    -96.88 (-7.14%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • Dow

    39,512.84
    +125.08 (+0.32%)
     

  • Nasdaq

    16,340.87
    -5.40 (-0.03%)
     

  • Gold

    2,366.90
    +26.60 (+1.14%)
     

  • Crude Oil

    78.20
    -1.06 (-1.34%)
     

  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     

  • FTSE Bursa Malaysia

    1,600.67
    -0.55 (-0.03%)
     

  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     

  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

UniCredit renews commitment to boosting shareholder returns - chairman

Reuters
·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)