Credit Suisse: no shareholders to physically attend AGM

(CercleFinance.com) - Due to the Covid-19 pandemic, Credit Suisse shareholders will not be allowed to attend its annual general meeting in person, which will be held in Zurich on 30 April, the Swiss private bank said on Wednesday.


Shareholders are hence requested to vote in advance by giving a power of attorney and voting instructions to the independent proxy. The deadline for this has been set on 27 April, the wealth manager said.

As previously announced, Credit Suisse will propose its shareholders a cash distribution of 0.2776 Swiss franc per share for 2019, in line with its intention to increase dividend by at least 5% per annum.

50% of this distribution will be paid from capital reserves, the group said.

Last week Credit Suisse said that its profitability in the first quarter has so far continued along the strong year-on-year improvement trend.

However, on Tuesday its economists warned that a recession in Switzerland was now "unavoidable," with the magnitude of the downturn expected to be limited to 2-3 months, thanks to the measures taken by monetary and fiscal authorities.

Copyright (c) 2020 CercleFinance.com. All rights reserved.