Proposed appropriation of retained earnings
The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on 6 April 2020 that the available retained earnings of CHF 6,685 million for the financial year ending on 31 December 2019, be appropriated as follows:
| In CHF million | 31.12.2019 | |
|---|---|---|
| Appropriation of retained earnings | ||
| Retained earnings from previous year | 6,424 | |
| Ordinary dividend | (1,140) | |
| Balance carried forward from prior year | 5,284 | |
| Net income for the year | 1,401 | |
| Retained earnings available to the Annual General Meeting | 6,685 | |
| Ordinary dividend of CHF 22.00 per share | (1,140) | |
| Balance to be carried forward | 5,545 | |
In the event that the proposal is approved, a dividend per share will be paid to shareholders on 14 April 2020 as follows:
| Per registered share | CHF | |
|---|---|---|
| Ordinary dividend, gross | 22.00 | |
| Less 35% withholding tax | (7.70) | |
| Net dividend payable | 14.30 |