Since the Board of Directors’ proposal for allocation of disposable profit, included in the Annual Report 2017, the number of registered shares eligible for dividend, at the dividend payment date of 26 April 2018, decreased due to the share buy-back programme of 4 485 316 shares and transfer of 46 926 shares for employee participation purposes from not eligible to eligible for dividend. This resulted in a lower dividend of CHF 22 million, compared to the Board of Directors’ proposal, and higher voluntary profit reserves by the same amount.

The Board of Directors’ proposal to the Annual General Meeting of 17 April 2019 is based on the number of shares eligible for dividend as of 31 December 2018. The actual dividend payment will depend on the number of shares eligible for dividend as of 18 April 2019.