Dividends
The dividend policy is earnings-related and provides for a payout ratio of 50% to 80% of consolidated net profit.
Information per registered share and participation certificate
| in CHF | 2024 | 2023 | 2022 | 2021 | 2020 | 
|---|---|---|---|---|---|
| Earnings | 8.83 | 8.05 | 5.67 | 7.70 | 6.72 | 
| Cash flow from operating activities | 14.85 | 11.82 | 6.40 | 12.21 | 14.71 | 
| Gross dividend | 6.001 | 5.00 | 4.00* | 4.00 | 4.00 | 
|   ordinary | 6.001 | 4.00 | 4.00* | 4.00 | 4.00 | 
|   extraordinary | 1.00 | ||||
| Payout ratio | 67.8% | 62.1% | 70.5% | 52.0% | 59.5% | 
1 Proposal by the Board of Directors
Additional information
| in CHF million | 2024 | 2023 | 2022 | 2021 | 2020 | 
|---|---|---|---|---|---|
| Total dividend | |||||
|   Registered shares  | 403 | 335 | 267 | 268 | 267 | 
|   Participation certificates       | 244 | 204 | 163 | 163 | 163 | 
| Total | 647 | 539 | 430 | 431 | 430 |