Swiss Re to Comply with ‘Excessive Compensation’ Rule; Sets Special Dividend

March 18, 2014

Swiss Re announced that its upcoming Annual General Meeting (AGM) on 11 April 2014, will include proposals from the Board of Directors to pay its ordinary dividend of CHF 3.85 [$4.40] per share and an additional special dividend of CHF 4.15 [$4.75] per share.

The Board also is seeking approval to amend its Articles of Association to be fully compliant with the Swiss federal “Ordinance Against Excessive Compensation at Public Corporations” ahead of its scheduled implementation.

The Board also will propose the election of Susan L. Wagner as a new independent member. As of today, shareholders also have access to Swiss Re’s 2013 Annual Report “Open minds connecting generations” and the Economic Value Management (EVM) 2013 report.

Swiss Re’s Chairman Walter B. Kielholz commented: “We followed a clear capital management policy over the past few years: growing our regular dividend in line with long-term earnings was our highest priority, followed by business growth where it meets our profitability targets. As a result, Swiss Re has returned more than half of the net income to shareholders each year since 2009. If the dividend proposals are approved by the AGM in 2014, the payout ratio as a percentage of net income will increase to 71 percent from 66 percent in 2013.”

Source: Swiss Re

Subscribe Like this article?
Subscribe to our free email newsletter.

Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features