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VP Bank to propose 22.2% higher dividend for 2017

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VP Bank to propose 22.2% higher dividend for 2017

VP Bank AG will propose an increase of 22.2% in its 2017 dividend, to CHF5.50 from CHF4.50 per registered A share and to 55 centimes from 45 centimes per registered B share.

The increase is subject to shareholder approval at the April 27 annual general meeting and is in line with the Liechtenstein-based bank's aim of distributing 40% to 60% of the group net income to shareholders. Net income in 2017 was CHF65.8 million, up from CHF58.0 million in 2016.

Assets under management stood at CHF40.4 billion at the end of 2017, up from CHF35.8 billion a year earlier on net new money inflows of CHF1.89 billion, up from CHF7.0 million.

Also at the AGM, the board will propose the election to its ranks of Thomas Meier, a former CEO for Asia at Julius Bär Gruppe AG.