Due to the COVID-19 Ordinance 2 issued by the Swiss Federal Council, shareholders were not permitted to attend the Annual General Meeting. From 3 April 2020 onwards, shareholders were given the option to exercise their voting rights via electronic or written instructions provided to an independent proxy. The independent proxy represented around 24.3 million, or approximately 49.9% per cent, of the 48.8 million total shares.
The AGM voted in favour of all the Board of Directors' proposals in the agenda. The shareholders approved the management report, the annual financial statements and the 2019 consolidated financial statements. It also granted discharge to the members of the Board of Directors and the executive officers. The proposal put forward by the Board of Directors to increase the dividend per share by CHF 0.40 to CHF 6.40 was also approved by a large majority of shareholders (99.8 per cent). This confirms Baloise shares as an attractive and reliable investment.
All members of the Board of Directors were re-elected for a one-year term of office, and Dr Andreas Burckhardt was re-elected as Chairman of the Board of Directors for a one-year term of office.
In his speech, Chairman of the Board of Directors Dr Andreas Burckhardt emphasised the fact that the insurances’ models have always been geared towards the long term and aim to ensure long-term success, and that it is this long-term focus that enables insurances to take responsibility for society during the current situation: “There is currently more need for our services than ever before, as they are required to help stabilise the economy in combination with measures introduced by the Government,” Dr Andreas Burckhardt commented. The requirements of customers, employees and investors are out top priority. With its excellent work during recent years, and in the 2019 financial year in particular, Baloise increased its stability and thereby provided stakeholders with the assurance they need.
The full speech delivered by Dr Andreas Burckhardt (in German only) can be downloaded from www.baloise.com or streamed at www.youtube.com/BaloiseGroup.
- Tuesday, 28 April 2020: ex-dividend date
- Thursday, 30 April 2020: dividend due date
- Thursday, 27 August 2020: 2020 half-year financial results
- Thursday, 29 October 2020: Investor Day