Proposed appropriation of available earnings

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(CHF in thousands)

2012

2011

Net income for the year

1,173,180

1,094,007

Carried forward from previous year

3,297,518

2,203,511

Earnings available to the Annual General Meeting

4,470,698

3,297,518

 

 

 

Ordinary reserves

Capital contribution reserve

Balance to be carried forward

4,470,698

3,297,518

The Board of directors proposes to carry forward the available earnings in the amount of CHF 4,470,698 thousand.

On February 14, 2013, the Company announced that a proposal will be put to the April 2013 Annual General Meeting to convert capital contribution reserve to other reserves in the amount of CHF 0.68 per share and distribute a dividend for the 2012 fiscal year of CHF 0.68 per share.