27 April 2004
At the sixth Swisscom General Meeting of Shareholders on 27 April 2004 in Lucerne, all proposals recommended by the Board of Directors were approved. For the year 2003 Swisscom will pay shareholders a dividend of CHF 13 per share. Swisscom expects to launch its previously announced CHF 2 billion share buy-back programme in May.
The shareholders approved the Annual Report, the financial statements and the consolidated financial statements for the year 2003 and approved the proposal of the Board of Directors for a dividend payment of CHF 13 per share (compared with CHF 12 the previous year). After deduction of withholding tax, this amounts to a net dividend of CHF 8.45. Swisscom will thus make a total dividend payment of CHF 861 million (gross). The net dividend sum, free from expenses, will be distributed to shareholders on 30 April 2004.
As previously announced, in addition to the dividend, Swisscom will buy back CHF 2 billion worth of its own shares via the second trading line. The share buy-back programme is expected to be launched in May. The repurchased shares are for a capital reduction to be proposed at the 2005 General Meeting.
The General Meeting granted discharge to the members of the Board of Directors and the Executive Board for the 2003 financial year. KPMG Klynveld Peat Marwick Goerdeler SA were elected for a one-year term as the statutory auditors and Group auditors.
Lucerne, 27 April 2004