Dividend information and Swiss tax values

Dividend

Distribution for the Financial Year 2019

In response to a request from FINMA, the Board of Directors is submitting a revised dividend proposal for this year’s AGM. Instead of a total dividend of CHF 0.2776 gross per share as originally announced on March 25, 2020, a total of CHF 678 million^[i], the Board of Directors is proposing a cash distribution of CHF 0.1388 gross per share, with half being paid from retained earnings^[ii] and half out of the capital contribution reserves^[iii]. In the Autumn of 2020, the Board of  Directors intends to propose a second cash distribution of CHF 0.1388 gross per share, which would be presented for approval at an Extraordinary General Meeting at that time, subject to market and economic conditions.

 While the Board remains of the opinion that Credit Suisse’s financial strength would have continued to support the original dividend proposal made to our shareholders, we believe that this response to FINMA’s request, in alignment with the similar decisions made by our peers, is a prudent and responsible step to preserving capital in the face of the challenges posed by the COVID-19 pandemic and will allow for a fuller evaluation of the extent of the economic impact of this crisis later in the year. Subject to confirmation following this assessment and the subsequent approval by our shareholders, the resulting aggregate dividend in 2020 would be in line with our intention to increase the dividend by at least 5% per annum.

^{[i] Based on 2,441,022,237 registered shares in issue at December 31, 2019, net of own shares held by the company
[ii] Net of 35% Swiss withholding tax
[iii] Free of Swiss withholding tax and not subject to income tax for Swiss resident individuals}

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Dividend Policy

Our dividend payment policy seeks to provide investors with a stable and efficient form of capital distribution relative to earnings.