Print this article
EFG International Shareholders Approve Dividend Rise
Editorial Staff
25 April 2023
Late last week, shareholders of agreed to approve a dividend payment of SFr0.45 per share out of reserves – a rise of 25 per cent from the 2021 financial year’s payment. Cash distribution of the payment is due for 27 April. As previously announced, Susanne Brandenberger and Steven Jacobs did not stand for re-election. Philip Lofts and Maria Leistner were elected as new members of the board of directors. All other members of the board of directors – Emmanuel Bussetil, Boris Collardi, Roberto Isolani, John Spiro Latsis, Carlo Lombardini, Périclès Petalas, Stuart Robertson, Bernd-A von Maltzan and Yok Tak Amy Yip – were also re-elected for a further one-year term of office. Giorgio Pradelli, CEO, spoke to this publication about its results, and strategy, here.
In the same annual meeting, held on 21 April, Alexander Classen was re-elected as chair of the board of directors for a further one-year term of office, the Zurich-listed firm said in a statement yesterday.
The meeting also approved re-election of the current remuneration and nomination committee members Emmanuel Bussetil and Bernd-A von Maltzan and the election of Alexander Classen, Boris Collardi and Roberto Isolani as new members of that committee for a one-year term of office.
A few weeks ago, EFG International reported a 48 per cent year-on-year surge in underlying net profit to SFr248.7 million ($267.9 million) in 2022. EFG proposed a dividend of SFr0.45 per share, rising 25 per cent; and said that it had logged an underlying return on tangible equity of 16.4 per cent for 2022, up from 10.6 per cent in 2021. Underlying operating income rose 6.4 per cent on a year before to SFr1.261 billion; operating costs held steady at SFr951.7 million.