Credit Suisse Rebounding On Plans To Raise Dividend, Buy Back Shares

(RTTNews) - Shares of Credit Suisse Group AG (CS) have shown a strong move to the upside on Wednesday after coming under pressure in recent sessions. After ending the previous session at its lowest closing level in well over two years, Credit Suisse is currently up by 3.9 percent.

The rebound by Credit Suisse comes after the Swiss bank announced plans to increase its ordinary dividend by at least 5 percent per year from 2019 onwards.

Credit Suisse also revealed plans to buy back 2 to 3 billion Swiss francs, or $2 to $3 billion, worth of shares over the next two years.