BCV's Annual Shareholders' Meeting was held today at the Palais de Beaulieu in Lausanne, Switzerland. The meeting was attended by 799 shareholders, representing 78.09% of the Group's capital. All items on the agenda were adopted.
Shareholders approved the 2010 consolidated financial statements, which show a CHF 314m net profit, and ratified the actions of the Board of Directors and the Executive Board for the 2010 financial year. They accepted the Board's proposal to pay an ordinary dividend of CHF 22 per share and to distribute CHF 10 per share out of paid-in reserves. BCV will thus return a total of CHF 275m to its shareholders.
In addition, shareholders renewed the term of office of the Bank's auditor PricewaterhouseCoopers for the 2011 financial year. It was also decided to reduce the minimum shareholding necessary to have an item of business entered on the agenda from an aggregate par value of CHF 100,000 to CHF 30,000.
Finally, shareholders appointed Reto Donatsch to the Board of Directors. He will replace Jean-Luc Strohm, who has reached the age limit for BCV's board members stipulated by law.
Lausanne, Switzerland, 5 May 2011
Christian Jacot-Descombes, Press Officer
Phone +41 79 816 99 30
Gregory Duong, Investor Relations Officer
Phone + 41 21 212 20 71
This press release is being issued outside the trading hours of the SIX, Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.
The above text is a translation of the original French document; only the French version is authoritative.