Profit distribution

Why a dividend payment out of the reserves from capital contributions?

This form of a dividend payment by Swiss companies to private shareholders (i.e. not brokers) resident in Switzerland are subject neither to income tax nor to withholding tax. Shareholders resident abroad do not have to pay withholding tax either, while the issue of income tax is handled differently according to the country of residence.

When will be the dividend payment in 2016?

The Board of Directors proposed at the Annual Shareholders’ Meeting of 23 March 2016 to pay out a dividend of CHF 18 per registered share out of retained earnings.The payment will be on 31 March 2016. The ex date is on 29 March 2016.

Does profit distribution depend on the share price?

No, it depends on how well the company has performed in the fiscal year just ended, its future prospects and various other parameters (see annual report).

Why this par value reduction? How does it work?

In principle, profits can be distributed in the form of either a dividend or a par value repayment. In the latter case, the par value of each share is reduced by a certain amount, which is then paid out to shareholders in lieu of a dividend. The share capital is then reduced by the relevant amount. Unlike dividends, par value repayments by Swiss companies to private shareholders (i.e. not brokers) resident in Switzerland are subject neither to income tax nor to withholding tax. Shareholders resident abroad do not have to pay withholding tax either, while the issue of income tax is handled differently according to the country of residence.

By when must shareholders have bought their shares in order to be eligible for this payout?

Shareholders have to hold the share on 24 March 2016 in order to receive the payment.

What kind of dividends have been paid out during the past few years?
Annual Shareholders' Meeting Dividend payment from capital contribution reserves
Par value reduction
Dividend registered share Dividend bearer share
23.03.2015     18 CHF  
18.03.2015 2.43 CHF   14.57 CHF
 
19.03.2014 7 CHF 9 CHF    
20.03.2013 15 CHF      
21.03.2012 15 CHF      

23.03.2011

 

10 CHF

 

 

24.03.2010

 

-

 

 

18.03.2009

 

5 CHF

 

 

19.03.2008

 

25 CHF

 

 

21.03.2007

 

25 CHF

 

 

22.03.2006

 

15 CHF

 

 

22.03.2005

 

10 CHF

 

 

17.03.2004

 

-

 

 

12.03.2003

 

-

 

 

19.03.2002

 

 

7 CHF

 

20.03.2001

 

 

15 CHF

 

21.03.2000

 

 

14 CHF

 

23.03.1999

 

 

14 CHF

 

31.03.1998

 

 

12 CHF

60 CHF

07.04.1997

 

 

9 CHF

45 CHF

22.04.1996

 

 

7 CHF

35 CHF

25.04.1995

 

 

6 CHF

30 CHF
How are profits distributed?

If the shares are held by a custodian bank, the sum due will be paid to this bank. Registered shareholders who keep their shares at home or in a bank vault will receive the sum due at the address for dividend payments they themselves have provided.

Investors