Banque Cantonale Vaudoise : All resolutions approved at BCV’s annual meeting

Press release

BCV's Annual Shareholders' Meeting was held today in Lausanne, Switzerland. Given the exceptional circumstances caused by the coronavirus pandemic, and in accordance with the provisions set out by the Swiss Federal Council, shareholders were not physically present at the meeting, but instead exercised their voting rights through an independent proxy.

5,325 shareholders, or 82.5% of the Group's capital, were represented at the meeting. All items on the agenda were approved, including the Board's proposal to pay an ordinary dividend of CHF 3.60 per share. BCV will thus return a total of CHF 310m to its shareholders. With 67% of the share capital, the Canton of Vaud will receive CHF 207m in dividends.

Shareholders elected Pierre-Alain Urech to BCV's Board of Directors as from 1 January 2022. That same day, Eftychia Fischer will become the Chair of BCV's Board of Directors, succeeding Jacques de Watteville, who reaches the age limit stipulated by the cantonal act governing BCV (LBCV) this year.

Shareholders ratified the actions of the Board of Directors and the Executive Board for the 2020 financial year. The compensation of the members of the Board of Directors and the Executive Board was accepted by more than 95% of the votes cast. Shareholders also approved the 2020 consolidated financial statements.

BCV Group posted a solid FY 2020 net profit of CHF 331m in a business environment impacted by Covid-19. Our share turned in an excellent performance in 2020, delivering a total shareholder return of 26%. Over the past five years, BCV has generated a total shareholder return of around 70%.

Lausanne, Switzerland, 29 April 2021

Banque Cantonale Vaudoise - Contacts

Daniel Herrera, Communications Director
Tel.: [phone]
Email: [e-mail]

Gregory Duong, Investor Relations
Tel.: [phone]
Email: [e-mail]

Note to editors:

This press release is being issued outside the trading hours of the SIX Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.

The above text is a translation of the original French document; only the French text is authoritative.