Swisscom pursues a return policy with a stable dividend. Since 2006, the dividend per share has been CHF 22. For the financial year 2022, the Board of Directors will again propose a dividend of CHF 22 to the Annual General Meeting. The total dividend of CHF 1,140 million corresponds to 85% of the free cash flow for 2022. Since the initial public offering in 1998, the total amount distributed has equated to CHF 36 billion and the average annual total shareholder return has equated to 4.5% (excluding reinvestment).