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Anonymous ID: a6224e March 30, 2020, 9:08 a.m. No.8623898   🗄️.is 🔗kun   >>4495

UBS defies Swiss dividend freeze call with $2.6 billion payout plan

 

ZURICH (Reuters) - UBS (UBSG.S) plans to pay a 2019 dividend that is more than half its annual profit, defying calls by the Swiss government and financial markets supervisor for lenders to limit payouts during the chinavirus crisis. Banks around the world have been asked to withhold payouts to ensure that they are able to support businesses through the economic disruption caused by the global coronavirus pandemic.

 

“UBS has a strong capital basis and is strategically well positioned, which is especially crucial in this difficult time,” the bank said on Monday, adding that it was “in a position to support the economy while maintaining an appropriate dividend policy.”

 

Shares in UBS, Switzerland’s largest bank, whose proposed dividend of $0.73 in cash per share is up nearly 6% over 2018 and foresees a payment of $2.6 billion to shareholders, closed little changed at 9.06 Swiss francs.

 

UBS posted net profit of $4.3 billion last year and the dividend payout reflects a roughly 8% return on the bank’s share price, that has fallen some 30% since February.

 

The European Central Bank (ECB) last week told banks in the euro zone to skip dividends and share buybacks until October.

 

This call has so far been heeded by groups including ABN Amro (ABNd.AS), the Bank of Ireland, ING (INGA.AS), Rabobank [RABOVR.UL] and Italy’s UniCredit (CRDI.MI) and Germany’s Commerzbank (CBKG.DE). UBS was rescued a decade ago by the Swiss federal government with a 6 billion Swiss franc ($6.28 billion) capital injection during the financial industry crisis.

 

UBS is also appealing an order by a French court to pay 4.5 billion euros ($5 billion) after being found guilty of laundering proceeds of tax evasion in 2019

https://www.reuters.com/article/us-ubs-dividend/ubs-defies-swiss-dividend-freeze-call-with-2-6-billion-payout-plan-idUSKBN21H0GT

Anonymous ID: a6224e March 30, 2020, 9:12 a.m. No.8623957   🗄️.is 🔗kun

PAT009 US Army C-560 with a low alt. pass of Burlington Int'l Airport, VT and now heading sw and gaining altitude and speed.

Anonymous ID: a6224e March 30, 2020, 9:19 a.m. No.8624018   🗄️.is 🔗kun   >>4314 >>4430 >>4473

German AF GAF086 A400M Airbus A400m out of Selfridge ANGB, Detroit and ne. Following up the jet that left earlier

 

NATO06 E-3A Sentry AWACS in done with survey ne of Hannover and now sw

 

busy this morning

Anonymous ID: a6224e March 30, 2020, 9:33 a.m. No.8624144   🗄️.is 🔗kun

AVX Corp bought by Kyocera Corp: $690.85m-Mar 30

 

Announces Completion of Merger with Kyocera Corporation

 

AVX Corporation AVX, -0.28% (“AVX”) announced today the successful completion of its previously announced acquisition by Kyocera Corporation (“Kyocera”), following the completion of Kyocera’s tender offer to purchase any and all outstanding shares of AVX common stock that it did not already own. The tender offer expired one minute after 11:59 p.m. (New York City time) on March 27, 2020 and was not extended. As of the expiration of the tender offer, a total of 31,763,490.559 shares of AVX common stock were validly tendered and not validly withdrawn pursuant to the tender offer, representing approximately 67.0% of the outstanding shares of AVX common stock not already owned by Kyocera.

https://www.marketwatch.com/press-release/avx-announces-completion-of-merger-with-kyocera-corporation-2020-03-30

 

121,800,000 shares are owned directly by Kyocera Corporation and 31,763,490.559 shares, which were validly tendered in a tender offer and accepted for payment on March 30, 2020, are directly owned by Arch Merger Sub Inc., a direct wholly owned subsidiary of Kyocera Corporation.

 

AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in two segments: Electronic Components; and Interconnect, Sensing and Control Devices. The Company has four main product groups: Ceramic Components; Tantalum Components; Advanced Components; and Interconnect, Sensing and Control Devices. The Company manufactures and resell a line of ceramic and tantalum electrolytic capacitors in many different sizes and configurations. The Company manufacture and resell electronic connectors, interconnect systems, and sensing and control devices for use in various industries. Number of employees : 15 100 people.

https://www.marketscreener.com/AVX-CORPORATION-11726/company/

 

Kyocera Corporation specializes in the development manufacturing and marketing of electronic components. The group also sells communication, document management, medical and energy systems and equipments. Net sales (including intragroup) break down by family of products as follows:

  • printing and document management equipments and systems (22.7%) ;

  • electronic devices (22.1%) : clock oscillators, resonators, connectors, etc.;

  • automotive and industrial components (19%): fine ceramic products (mainly for the manufacture of automotive equipment), liquid crystal displays, optical components, etc. The group also sells industrial tools;

  • communication equipments and systems (15.2%): telecommunications terminals (smartphones, tablets), connectivity devices, telecommunications infrastructure, etc.;

  • semiconductor components (15.1%);

  • ceramic products (4.8%): primarily solar equipments, dental implants and kitchen utensils;

  • other (1.1%).

Net sales break down geographically as follows: Japan (36.7%), Asia (23.6%), Europe (20.4%), the United States (15.3%) and other (4%). Number of employees : 76 863 people.

https://www.marketscreener.com/KYOCERA-CORPORATION-6492472/company/

https://www.finviz.com/insidertrading.ashx?oc=57083&tc=7&b=2