Sumary of Swiss Life launches new $1.07 bln share buyback and increase dividend payout:
- Article content ZURICH — Swiss Life will launch a new 1 billion Swiss francs ($1.07 billion) buyback and raise its dividend payout ratio to more than 60%, the company said on Thursday, as it announced higher profit targets for its investor day.
- The company wants to increase its annual fee result to 850 to 900 million Swiss francs by 2024, it said, up from the current goal of 600 to 650 million francs.
- Swiss Life said it also wants to increase the cumulative cash remittance to the holding company to 2.8 to 3.0 billion from 2022 to 2024. It would do this through higher revenues from asset management, from unit-linked products and the independent financial advisory organizations it owns.
- It also aims to raise its dividend payout ratio from 50% to 60% of net income under the previous Swiss Life 2021 program.