Proposed appropriation of retained earnings
Proposal of the Board of Directors
The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on 6 April 2016 that the available retained earnings of CHF 4,641 million as of 31 December 2015 be appropriated as follows:
| In CHF million | 31.12.2015 | |
|---|---|---|
| Appropriation of retained earnings | ||
| Balance carried forward from prior year | 4,362 | |
| Net income for the year | 279 | |
| Total retained earnings | 4,641 | |
| Ordinary dividend of CHF 22.00 per share to 51,801,943 shares 1 | (1,140) | |
| Balance to be carried forward | 3,501 | |
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1 Excluding treasury shares.
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In the event that the proposal is approved, a dividend per share will be paid to shareholders on 12 April 2016 as follows:
| Per registered share | CHF | |
|---|---|---|
| Ordinary dividend, gross | 22.00 | |
| Less 35% withholding tax | (7.70) | |
| Net dividend paid | 14.30 |