Compagnie Financière Tradition reports results of AGM
The dividend approved at the AGM consists of a cash payment of a gross amount of CHF 5.00 per bearer share of CFT with a nominal value of CHF 2.50 and the distribution of one bearer share for every 35 bearer shares held.
Compagnie Financière Tradition, an interdealer broker in over-the-counter financial and commodity related products, has just reported that, at its Annual General Meeting held earlier today, the dividend proposed by the Board was approved.
The dividend consists of a cash payment of a gross amount of CHF 5.00 («cash dividend») per bearer share of CFT with a nominal value of CHF 2.50 («bearer share(s)») and the distribution of one bearer share for every 35 bearer shares held («stock dividend»).
The reference share price corresponds to the average of the closing prices of the bearer shares on SIX Swiss Exchange for the 20 trading days preceding the date of the Annual General Meeting (i.e. from 24 April to 22 May 2019), less the gross amount of the cash dividend of CHF 5.00, i.e. CHF 103.82.
The taxable gross amount for the cash dividend is CHF 5.00 for every bearer share held and for the stock dividend CHF 2.97 (reference share price divided by 35) for every bearer share held.
The total amount of the dividend is CHF 55,456,000 and the retained earnings carried is CHF 76,301,000, subject to the amount of treasury shares held at the coupon detachment date.
In April this year, the Group posted its results for the first quarter of 2019, marking growth in activity and revenues.
Reported consolidated revenue amounted to CHF 240.2 million, compared with CHF 229.6 million in same period in 2018, up 3.3% in constant currencies. At current exchange rates, consolidated revenue presented an increase of 4.6%.
For the same period, the Group’s consolidated adjusted revenue was CHF 263.6 million, compared with CHF 250.9 million in 2018, an increase of 3.7% at constant exchange rates. The adjusted revenue from interdealer broking business (IDB) was up 3.3% in constant currencies while the forex trading business for retail investors in Japan (Non-IDB) marked an increase of 15.5%.