For shareholders


BCV share price

Cours actuel801.00
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Variation 12.00 (+1.52%)
+ haut du jour814.00
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Payouts to shareholders








































1Total dividends paid to shareholders

The BCV share



Number of fully paid-in, registered shares


Par value

CHF 10

Stock exchange listing

SIX Swiss Exchange

Market capitalization (at 31 December 2019)

CHF 6.8 billion

Swiss security number

1 525 171



Ticker symbols

Bloomberg: BCVN

Telekurs: BCVN

Reuters: BCVN.S

Share ownership structure

At 31 December 2019

By type of shareholder

BCVPie | amCharts

By geographical zone

BCVPie | amCharts


2020 Annual General Meeting

Banque Cantonale Vaudoise is pleased to announce that its Annual General Meeting will be held on Thursday, 30 April 2020 in Lausanne, Switzerland

Given the exceptional circumstances we are currently facing due to the coronavirus outbreak, BCV’s Board of Directors has decided to hold the Annual General Meeting scheduled for 30 April 2020 but to prohibit shareholders from physically participating in the meeting, in accordance with the measures set out in the Ordinance on Measures to Combat the Coronavirus (Article 6a, paragraph 1, letter b) adopted by the Swiss Federal Council on 16 March 2020. Shareholders will therefore not be able to attend the Annual General Meeting in person.

The agenda is as follows:

  1. Introduction
  2. Approval of the management report and both parent company and Group accounts for the 2019 financial year
  3. Appropriation of profit and other distributions
  4. Approval of the compensation of the Board of Directors and the Executive Board
  5. Approval of the actions of the Board of Directors and the Executive Board
  6. Stock split
  7. Other changes in the Articles of Association
  8. Election to the Board of Directors
  9. Election of the independent proxy
  10. Appointment of the external auditor
  11. Other



The 2019 Annual Report contains BCV’s consolidated and parent company financial statements, its management report, the statutory auditor’s report to the general meeting, BCV’s audit report, and how the Bank plans to allocate the profit generated during the year. Shareholders can obtain the annual report on BCV’s website at or upon request at its headquarters in Lausanne.

Representation by proxy at the AGM

A reply card will be sent to shareholders who are listed in the share register as having voting rights. Shareholders may send this card back by post (Computershare Suisse SA, Banque Cantonale Vaudoise, Case postale, 4601 Olten) or via internet ( to grant power of representation to the independent proxy, Lausanne-based attorney Christophe Wilhelm. Only shareholders listed as having voting rights as of 9 April 2020 will be entitled to vote.

Questions to the Board of Directors

Shareholders may send any questions they have, by Thursday, 23 April 2020, to: Président du Conseil d’administration, Banque Cantonale Vaudoise, Case postale 300, 1001 Lausanne. The Board will respond directly to each shareholder that asks a question.

Publication of AGM decisions

The motions approved at the Annual General Meeting will be made available to shareholders starting on 1 May 2020 at BCV’s headquarters in Lausanne and on the Bank’s website at


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2019 Annual Report

The 2019 Annual Report contains the financial statements of the BCV Group and parent company at 31 December 2019. It also provides management discussion and analysis of BCV’s activities as a whole and by business sector, as well as a review of the economic environment.

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Suchbegriffe: Rapport annuel

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2019 dividend payout

At the Annual General Meeting on 30 April 2020, the Board of Directors will submit a proposal to pay an ordinary dividend of CHF 36 per share. The dividend will be paid according to the following schedule:



Ex-dividend date

5 May 2020

Dividend record date

6 May 2020

Dividend payment

7 May 2020





Target price

Last update

Autonomous Research

Stefan Stalmann


CHF 805

21 February 2019

Credit Suisse

Andreas Brun


CHF 705

22 February 2019


Andreas Venditti


CHF 740

21 February 2019

Zürcher Kantonalbank 

Javier Lodeiro 


21 February 2019


SPI, Swiss Performance Index

SPI Extra


SP Bank

UBS 100 Index

Logo SIX

Dow Jones Switzerland Select Dividend 15 index


STOXX® Switzerland Total Market

STOXX® All Europe 800








The BCV share

What is BCV's market capitalization?

The market capitalization of a listed company is its share price multiplied by the total number of shares outstanding. BCV's market capitalization was CHF 6.8 billion at 31 December 2019.

Where can I get the BCV share price?

The BCV share price is posted in the "BCV Share" section of our website with a 15-minute delay.

What stock market is BCV listed on?

The BCV share is traded in the Domestic Standard segment of the SIX Swiss Exchange (the Swiss stock market) under ISIN CH0015251710, Swiss security number 1 525 171.

How can I buy BCV shares?

You must have a securities account open with a financial institution to buy BCV shares. You can place your buy order with your financial institution.

Being a BCV shareholder

What rights do I have as a BCV shareholder?

The right to sell your shares: You can sell your BCV shares at any time by placing an order with the financial institution where your shares are held. 

The right to a dividend: You will receive any dividends or other distributions approved at BCV’s Annual General Meetings. We intend to pay an ordinary dividend of between CHF 34 and CHF 38 per share.

The right to receive BCV financial information: You can request to be sent a paper copy of all BCV financial documents, including our annual and interim reports. However, we prefer to issue documents electronically for environmental reasons; electronic versions of our financial reports are available on our website and through our BCV IR app for iPads.

Voting rights: You can vote on resolutions proposed at shareholders' meetings such as the Annual General Meeting. To be able to vote, your name must be included in the register of shareholders by the closing date for the corresponding meeting. View a list of upcoming key dates or learn how to be added to the register of shareholders.

How can I become a BCV shareholder?

BCV shares are traded on the Swiss stock market, the SIX Swiss Exchange. You must have a securities account open with a financial institution to buy BCV shares. You can place your buy order with your financial institution.

How can I be added to the register of shareholders?

We keep a register of all persons owning BCV registered shares. To be added to the register, contact the financial institution where your BCV shares are held.

BCV's Annual General Meeting

When is the next Annual General Meeting?

The next Annual General Meeting will be held on Thursday 30 April 2020. Confirmation of the date and venue will be announced in February.

Can I attend the next Annual General Meeting?

You must be a BCV shareholder included in the register of shareholders to be invited to the Annual General Meeting. If your name is in the register, you will be sent an invitation by mail along with instructions for attending the meeting, voting by mail or electronically, or appointing a proxy to vote in your place.

The BCV dividend

What is BCV's dividend policy?

In line with the approach adopted over the last decade, the Group has extended its distribution policy for another five years beginning with the 2018 reporting period. In light of the planned reduction in Vaud Canton’s corporate tax rates, the Bank intends to pay an ordinary dividend of CHF 34–38, barring significant changes in the economic or regulatory environment or in the Bank’s situation.

When should I buy BCV shares to be able to get a dividend?

Dividends and other distributions are typically paid out a few days after the Annual General Meeting. To receive the payouts, you must have bought your BCV shares before the ex-dividend date.

BCV's capital structure

Who are BCV's main shareholders?

As a cantonal bank, BCV is 66.95%-owned by the Canton of Vaud. The remaining 33.05% – the free float – is owned by private-sector shareholders, including Vaud residents (who own around 11%) and institutional investors like pension funds and investment funds. These private-sector investors come from both Switzerland and abroad.

How much shareholders' equity does BCV have?

BCV had CHF 3.6 billion of shareholders' equity at 31 December 2019, for a total capital ratio of 17.3%. Our shareholders' equity consists entirely of tier 1 capital: share capital, retained earnings, and various other reserves.

What is BCV's market capitalization?

The market capitalization of a listed company is its share price multiplied by the total number of shares outstanding. BCV's market capitalization was CHF 6.8 billion at 31 December 2019.

What is the par value of BCV shares?

Our equity capital consists of 8,606,190 shares with a par value of CHF 10 each, for a total value of CHF 86,061,900.

BCV's financial statements

What accounting standards does BCV use?

Our consolidated financial statements are prepared in accordance with the Swiss Federal Act of 8 November 1934 on Banks and Savings Institutions, the corresponding Ordinance of 30 April 2014 and the Swiss Accounting Rules for Banks, Securities Dealers, Financial Groups and Conglomerates of 27 March 2014 (FINMA Circular 2015/1).

How often does BCV publish its financial statements?

We publish interim and full-year financial statements.

Who is BCV's auditor?

KPMG SA was appointed as the BCV auditor at the Annual General Meeting on 2 May 2019. Auditors are approved by shareholders for one-year terms, and can serve up to five consecutive terms.

Tax value of BCV shares

Below is the tax value of the BCV share at each year-end:


Tax value


CHF 790.00


CHF 741.00


CHF 735.00


CHF 645.00


CHF 636.50


CHF 539.00


CHF 486.50


CHF 484.75


CHF 456.25


CHF 491.00


CHF 411.00


CHF 317.75


CHF 501.00


CHF 506.11


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