Swiss banking giant UBS will start paying out half of its profits in dividends to shareholders this year, the bank’s chief executive Sergio Ermotti told the Financial Times in an interview.
In his interview, Ermotti signalled that the bank will hike the level of dividend payout from 30 to at least 50% this year.
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Such a payout ratio has been first flagged as a target in late 2012. However, the bank never given a timeframe for the target other than saying it would be contingent on the bank reaching a 13% core tier one ratio.
Last year, the target was narrowly missed with 12.8%.
"Ideally I hope over the next few years, the balance between managing legacy, managing today and managing tomorrow can be adjusted," the publication quotes Ermotti as saying.
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