Annual Report 2022

Proposal for the Distribution of Available Retained Earnings and Reserves

CHF

 

December 31, 2022

 

December 31, 2021

Balance brought forward

 

26,156,820

 

105,854,558

Net income

 

366,537,238

 

291,042,009

Other

 

6,573,0071

 

– 89,667

Available retained earnings

 

399,267,065

 

396,806,900

 

 

 

 

 

Shares and participation certificates as per bylaws of CHF 23,949,460 as at December 31, 2022 (CHF 24,220,840 in prior year)

 

 

 

 

Release of general legal reserve

 

71,040,000

 

–

Release of special reserve

 

471,774,222

 

–

1300% (1200% in prior year) dividend

 

– 311,342,9802

 

– 290,650,080

Allocation to special reserves

 

–

 

– 80,000,000

Balance carried forward

 

630,738,307

 

26,156,820

 

 

 

 

 

Allocation of approved capital contribution reserve to free reserves

 

–3

 

–

Withholding tax exempt distribution CHF 0 per registered share/CHF 0 per participation certificate (CHF 0 per RS/CHF 0 per PC in prior year)

 

–

 

–

1

Includes dividends not distributed on treasury stock held of CHF 7,653,600 distributed on options exercised during the period January 1 to May 1, 2022 of CHF –1,088,640, and expired dividends of CHF 8,047.

2

Number of registered shares and participation certificates, status as at December 31, 2022. During the period from January 1 until record date of April 25, 2023, 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 2023 Annual General Meeting.

For 2022 the Board of Directors proposes a total dividend of CHF 1,300 per registered share and CHF 130 per participation certificate.

In order to simplify the capital structure, the proposal also includes the allocation of available general legal reserves in the amount of CHF 71,040,000 as well as the entire special reserves of CHF 471,774,222 to retained earnings.