Bank Sarasin’s Annual General Meeting 2010: dividend increased by 38% to CHF 0.90

28.04.2010

Yesterday in Basel the Annual General Meeting of Shareholders of Bank Sarasin & Co. Ltd approved all the resolutions submitted by the Board of Directors. The dividend for the last financial year 2009 was increased by 38% to CHF 0.90 per class B registered share. Shareholders re-elected the Chairman of the Board Christoph Ammann and his fellow Directors Hubertus Heemskerk and Sipko N. Schat for another three-year term of service.

At yesterday’s 23rd AGM, the shareholders of Bank Sarasin approved the annual report and consolidated financial statements for 2009 and discharged the members of the Board of Directors and the Executive Committee for the past financial year.

Based on the solid operating result for 2009, shareholders also approved the distribution of the profit on the balance sheet totalling CHF 282.4 million: a dividend of CHF 0.90 will therefore be paid for each class B registered share. This represents an increase from CHF 0.65 by 38%. At the current share price, this corresponds to a dividend yield of around 2%. The payout ratio amounts to 20% of the distributable profit on the balance sheet.

Shareholders re-elected Christoph Ammann (Chairman) and his fellow Directors Hubertus Heemskerk and Sipko N. Schat (delegated by the majority shareholder Rabobank) for another three-year term of service up to 2013.

Christoph Ammann, Chairman of the Board of Directors of Bank Sarasin & Co. Ltd, in his speech on the key challenges for the Swiss financial centre and its banks:
“Market conditions were very challenging in the wake of the global financial crisis. Swiss banking confidentiality has come under pressure, tighter regulations are required to address the causes of the financial turmoil, and the crisis of confidence has to be overcome. Our bank is committed to sustainable solutions and to treat its clients and employees fairly at all times. Fostering a stable legal framework will ensure that the Swiss financial centre, which has always enjoyed an excellent reputation, can maintain its position as the world's largest asset manager in the cross-border private banking business. Ultimately, this security will also provide Bank Sarasin with the necessary foundation to continue growing its business in a sustainable manner.”

Joachim H. Straehle, CEO of Bank Sarasin & Co. Ltd, in his presentation of the annual results 2009:
“The key to our success lies in our clear strategic direction: Our strategy is geared towards sustainability and investments in the future. We focus on private banking and offer investment solutions tailored to individual client needs. We are not product pushers. We target clear geographic focal points. We implement strict cost management and regularly review our business cases. We make very selective but also continuous investments in our growth strategy. The long-term success of our operating measures is particularly apparent in the figures for net new money inflow: since 2006, Sarasin has generated impressive net new money growth averaging 17% per year. That’s just one of the successes that our shareholders benefit from.”

News Overview

	Media release 28.04.2010 (58 KB)
	Speeches at the 23rd Annual General Meeting of Shareholders of Bank Sarasin & Co. Ltd (424 KB)