Proposed appropriation of available earnings

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(CHF in thousands)

2013

2012

Net income for the year

607,053

1,173,180

Carried forward from previous year

4,470,698

3,297,518

Earnings available to the Annual General Meeting

5,077,751

4,470,698

 

 

 

Ordinary reserves

Capital contribution reserve

Balance to be carried forward

5,077,751

4,470,698

The Board of directors proposes to carry forward the available earnings in the amount of CHF 5,077,751 thousand.

On February 13, 2014, the Company announced that a proposal will be put to the April 2014 Annual General Meeting to convert capital contribution reserve to other reserves in the amount of CHF 0.70 per share and distribute a dividend for the 2013 fiscal year of CHF 0.70 per share.