Plus   Neg

Credit Suisse Expects Total Buyback Of At Least CHF 1 Bln In 2019, 2020

Swiss banking major Credit Suisse Group AG (CS), at its Annual General Meeting on Friday, said it expects a total buyback of at least 1 billion Swiss francs in fiscal 2019, subject to market and economic conditions. For 2020, the company expects a buyback programme similar to that of 2019, subject to approval by the Board of Directors.

As announced earlier, the Board proposed to shareholders a distribution of 0.2625 franc per registered share, out of capital contribution reserves, for the financial year 2018. This is in line with its intention to increase the ordinary dividend by at least 5% per annum.

The Board also nominated Christian Gellerstad and Shan Li for election as new non-executive members of the Board at the AGM.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT