The Liechtensteinische Landesbank pursues an attractive long-term dividend policy for its shareholders. Accordingly, dividend per LLB share steadily increased in the past. The payout ratio ranged from 56 percent (2009) to 94 percent (2010) of the net profit. From 2008 to 2010, the dividend remained stable at CHF 3.40. In view of the year-end business report in 2011, which was not satisfactory, the challenging economic environment and the objective to strengthen the equity base, the LLB Board of Directors decided to reduce the dividend to CHF 0.30.
At the same time, the LLB Group is, however, obliged to maintain its financial security and stability. Against this backdrop, the LLB Group wants to increase risk-bearing capital in accordance with Basel III to a tier 1 ratio above 16 percent (end of 2012: 15.6 %). The Board of Directors will propose a dividend of CHF 1.50 (2011: CHF 0.30) to the General Meeting of Shareholders on 3 May 2013. This corresponds to a payout ratio of 43.5 percent for 2012. The dividends amount to CHF 42.6 million. In the future, we shall strive to achieve a payout ratio of 40 to 60 percent of the Group net profit.
Dividend per share
2008 – 2012, in CHF
* Proposal of the Board of Directors to the General Meeting of Shareholders on 3 May 2013.