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Leonteq's Annual General Meeting approved a significant dividend increase to CHF 3 per share, driven by major shareholder Raiffeisen, despite opposition from the Board of Directors. However, a proposed share buyback program by businessman Rainer-Marc Frey was rejected. The meeting highlighted ongoing tensions between the company and its investors, particularly following regulatory sanctions and dissatisfaction with executive remuneration proposals.
Leonteq shareholders have approved a proposal from major shareholder Raiffeisen Switzerland to increase the dividend to CHF 3.00 per share, significantly higher than the Board of Directors' suggested 25 centimes. The company will still meet capital requirements after the payout of approximately CHF 55 million. Additionally, proposals for a share buyback program and Executive Board remuneration for 2026 were rejected, with the Board set to revise the latter for an Extraordinary General Meeting.
UBS shares have been removed from a model portfolio by a strategist, following a recent reinstatement by another analyst. The Swiss market shows mixed performance, with Givaudan gaining slightly while Sonova and Dätwyler face declines. Notable updates include Galderma receiving EMA marketing authorization and Novartis gaining FDA orphan drug designation for Ianalumab.
Rainer-Marc Frey has increased his stake in Leonteq to 6.2% following a surge in share purchases, taking advantage of the company's recent 12% drop after its fourth profit warning. Frey, a billionaire hedge fund manager, is betting on a rebound, although shares have continued to decline, falling below CHF 20.
Rainer-Marc Frey
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