Credit score Suisse shareholders approve remaining 2019 dividend fee

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© Reuters. FILE PHOTO: Emblem of Swiss financial institution Credit score Suisse is seen Zurich

ZURICH (Reuters) – Credit score Suisse (SIX:) shareholders on Friday accepted fee of the second half of its 2019 dividend.

Each large Swiss banks, Credit score Suisse and UBS, determined in April to postpone paying a part of their 2019 dividends after mounting strain from authorities over lenders’ payouts in the course of the coronavirus pandemic.

Credit score Suisse shareholders accepted the financial institution’s remaining 2019 dividend payout of 0.1388 Swiss francs per share, which adopted a payout of the identical quantity in Could, with 99.36% help.

Chairman Urs Rohner in a webcast speech defended full fee of the financial institution’s 2019 dividend, as in comparison with a steep drop in European banks’ payouts, saying Swiss banks have been well-capitalised and the Swiss economic system had confirmed extra resilient than others.

“As , regulators in different jurisdictions, amongst them the European Union, have up to now taken a special strategy to dividends this 12 months,” Rohner stated on the digital extraordinary basic assembly. “Nonetheless, this under no circumstances suggests a extra lax strategy to the distribution of dividends in Switzerland or that Swiss laws are much less stringent.”

Shareholders accepted payout of the ultimate tranche of UBS’s 2019 dividend earlier this month.

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