Annual Report 2021

Proposal for the Distribution of Available Retained Earnings and Reserves

CHF

 

December 31, 2021

 

December 31, 2020

Balance brought forward

 

105,854,558

 

19,666,399

Net income

 

291,042,009

 

275,020,818

Other

 

– 89 6671

 

6,582,926

Available retained earnings

 

396,806,900

 

301,270,143

 

 

 

 

 

Shares and participation certificates as per bylaws of CHF 24,220,840 as at December 31, 2021 (CHF 23,996,660 in prior year)

 

 

 

 

1200% (731% in prior year) dividend

 

– 290 650 0802

 

– 175,415,585

Allocation to special reserves

 

– 80,000,000

 

– 20,000,000

Balance carried forward

 

26,156,820

 

105,854,558

 

 

 

 

 

Allocation of approved capital contribution reserve to free reserves

 

–3

 

88,547,675

Withholding tax exempt distribution CHF 0 per registered share/ CHF 0 per participation certificate (CHF 369 per RS/CHF 36.90 per PC in 2020)

 

–

 

– 88,547,675

1

Includes dividends not distributed on treasury stock held of CHF 266,815 distributed on options exercised during the period January 1 to May 5, 2021 of CHF –361,553, and expired dividends of CHF 5,071.

2

Number of registered shares and participation certificates, status as at December 31, 2021. During the period from January 1 until record date of May, 3, 2022, the dividend-bearing capital (the number of registered shares and participation certificates) can change as a result of additions and retirements within either class of treasury stock as well as the exercise of options, granted through the employee stock option plan. Consequently the allocation of the approved capital contribution reserve to free reserves will be adjusted accordingly.

3

Reserves from capital contributions must be used for the share buy-back program currently in place and will not be available for distribution at the 2022 Annual General Meeting.

On March 24, 2021, the Federal Tax Administration (EStV) confirmed the net addition of the requested reserves from capital contribution (premium) of CHF 87,710,591. Thus, a distribution from the reserves from capital contribution of CHF 369 per registered share and CHF 36.90 per participation certificate could be made.

For 2021 the Board of Directors proposes a total dividend of CHF 1,200 per registered share and CHF 120 per participation certificate.