Proposed appropriation of retained earnings

The Board of Directors proposes to the Annual General Meeting of Share­holders to be held on 31 March 2021 that the available retained earnings of CHF 5,634 million for the financial year ending on 31 December 2020 be ap­pro­pri­ated as follows:

In CHF million   31.12.2020
Appropriation of retained earnings
Retained earnings from previous year   6,686
Ordinary dividend   (1,140)
Balance carried forward from prior year   5,546
Net income for the year   89
Changes in treasury shares   (1)
Retained earnings available to the Annual General Meeting   5,634
Ordinary dividend of CHF 22.00 per share   (1,140)
Balance to be carried forward   4,494

In the event that the proposal is approved, a dividend of CHF 22 per share will be paid to shareholders on 8 April 2021.