UOB’s full-year net profit rose by 6% y-o-y to a record $6 billion thanks to strong net fee income and trading and investment income.
At the same time, the bank announced that it has proposed a final dividend of 92 cents per share, bringing the total dividend for FY2024 to $1.80 per share. In addition, the bank announced a $3 billion package to distribute surplus capital over the next three years. This includes special dividends and share buybacks; the bank will be distributing a special dividend of 50 cents per share in 2025 and it has introduced a $2 billion share buyback programme.
Shares in UOB closed 5 cents lower or 0.13% down at $38.38 on Feb 21. The bank’s shares are up by 5.01% year-to-date.
