Proposal regarding the appropriation of the balance sheet profit
Proposal for the appropriation of net profit
The Board of Directors will propose to the annual general meeting of 24 April 2020 a distribution of a total of 6.75 per share, with CHF 3.50 deemed to be a dividend and CHF 3.25 deemed to be repayment of reserves from contribution of capital.
Appropriation of balance sheet profit
The Board of Directors will submit to the annual general meeting the following proposal regarding the appropriation of the balance sheet profit:
CHF million | 2019 | 2018 | ||
Carried forward from previous year | 311.0 | 280.0 | ||
Net profit | 40.7 | 31.0 | ||
Balance sheet profit as at 31 December (at the disposal of the annual general meeting) | 351.7 | 311.0 | ||
Distribution of CHF 3.50 per share (gross) | –55.8 | 0.0 | ||
Brought forward to new account | 295.9 | 311.0 |
Since the general statutory retained earnings exceed 50% of the share capital, there will be no further allocation.
Appropriation of reserves from contribution of capital
CHF million | 2019 | 2018 | ||
Reserves from contribution of capital as at 31 December (at the disposal of the annual general meeting) | 628.0 | 731.3 | ||
Distribution of CHF 3.25 per share | –51.8 | –103.6 | ||
Brought forward to new account | 576.2 | 627.7 |
The treasury shares of the company do not rank for distributions.
The distribution per share for the 2019 financial year as determined by the annual general meeting will be paid out to shareholders on or after 30 April 2020 in the form of CHF 3.25 from reserves from contribution of capital (without deduction of withholding tax) and CHF 3.50 as a dividend (with deduction of withholding tax).
Baar, 11 February 2020
On behalf of the Board of Directors:
Ralph-Thomas Honegger,
Chairman of the Board of Directors