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STOCKHOLM - Swedbank AB (OTC:SWDBY), a leading financial institution in the Nordic region, has announced a change in its dividend policy. The bank's Board of Directors has decided to increase the dividend payout to shareholders from the previous 50% to a new range of 60-70% of the annual profit. This shift comes after several years of maintaining a lower dividend policy to bolster Swedbank's capital strength.
Göran Persson, Chairman of the Board of Swedbank, stated, "Now it is time for our owners such as Savings banks, retail investors, pension funds, and foundations to once again get an increased part of the earnings." This change reflects the bank's improved capital position and its commitment to providing value to its shareholders.
Jens Henriksson, CEO and President of Swedbank, commented on the balance between growth and capital security, indicating that the bank is poised to develop and expand lending while maintaining a strong capital position. He also noted that there was no new information regarding the U.S. investigations into the bank.
The announcement precedes the publication of Swedbank's year-end 2024 report, scheduled for release tomorrow, which will include the proposed dividend for 2024.
Swedbank, with over 7 million retail customers and 550,000 corporate clients, operates primarily in Sweden, Estonia, Latvia, and Lithuania, and maintains a presence in other Nordic countries, the U.S., and China. The bank's vision focuses on fostering a financially sound and sustainable society.
This information, which is considered inside information under EU Market Abuse Regulation, was officially released on January 22, 2025, and is based on a press release statement from Swedbank AB.
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