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VP Bank share

The VP Bank share – a sound stock

An investment in VP Bank is an attractive and secure investment. Our Standard & Poor’s rating of A–/Positive/A–2 (as at 2 March 2017, confirmed as at 21 August 2017) is testimony to that.

The A registered shares of VP Bank AG are listed on Switzerland's stock market, the SIX Swiss Exchange, and can be freely traded. The stock is included in the SPI, SPI Extra, SPI ex SLI and Swiss All Share Index on the SIX Swiss Exchange. The B registered shares of VP Bank AG are not listed but are spread among the population of Lichtenstein. Both share categories confer the membership rights stipulated in the Liechtenstein Code of Personal and Company Law (CPCL) and in the Articles of Association.

At the general meeting of shareholders of VP Bank each A registered share (nominal value: CHF 10) and each B registered share (nominal value: CHF 1) confer one vote, regardless of nominal value.For many years VP Bank has operated a well-balanced dividend policy with regular distributions in order to remain attractive to investors over the longer term: as a guideline range, between 40% and 60% of Group profits is paid out to the shareholders.

Key data

Stock symbol: VPBN

Security number: 31 548 726

ISIN code: LI0315487269

Trading currency: CHF

Ticker symbols Reuters: VPBN.S

Ticker symbols Bloomberg: VPBN

Current price

Key share data

Semester summary of key financial ratios

  30.06.2015 31.12.2015 30.06.2016 31.12.2016 30.06.2017
Group net income per A registered share in CHF 6.37 10.17 4.04 9.61 5.22
Shareholder's equity per A registered share in CHF 139.47 154.01 147.48 157.14 156.78
Trading price per A registered share in CHF 81.75 82.00 89.30 108.00 118.70
Trading price per B registered share in CHF 8.18 8.20 8.90 10.80 11.90
Market capitalisation in CHF million 541 542 591 714 785
Price-earnings ratio per A registered share in CHF 6.09 8.06 11.04 11.24 11.37
Price-earnings ratio per B registered share in CHF 6.09 8.06 11.00 11.24 11.40
Dividend per A registered share in CHF n.a 4.00 n.a 4.50 n.a
Dividend per B registered share in CHF n.a 0.40 n.a 0.45 n.a
Payout ratio (as a percentage of consolidated earnings) n.a 39.30 % n.a 46.80 % n.a
Net dividend yield n.a 4.90 % n.a 4.20 % n.a
Free float 52.91 % 40.02 % 41.89 % 44.42 % 46.31%

Five-year summary of key financial ratios

  2012 2013 2014 2015 2016
Group net income per A registered share in CHF 8.17 6.58 3.45 10.17 9.61
Shareholder's equity per A registered share in CHF 150.97 153.37 149.98 154.01 157.14
Trading price per A registered share in CHF 65.00 97.50 85.00 82.00 108.00
Trading price per B registered share in CHF 5.50 8.50 8.50 8.20 10.80
Market capitalisation in CHF million 378 569 503 542 714
Price-earnings ratio per A registered share in CHF 7.95 14.81 24.65 8.06 11.24
Price-earnings ratio per B registered share in CHF 6.73 12.91 24.65 8.06 11.24
Dividend per A registered share in CHF 2.50 3.50 3.00 4.00 4.50
Dividend per B registered share in CHF 0.25 0.35 0.30 4.00 0.45
Payout ratio (as a percentage of consolidated earnings) 30.60% 53.20% 87.00% 39.30% 46.80%
Net dividend yield 3.80% 3.60% 3.50% 4.90% 4.20%
Free float 62.14% 68.70% 53.12% 40.02% 44.42%

 

Capital structure

Following the conversion of bearer shares into registered shares at the general meeting of shareholders held on 29 April 2016, VP Bank's share capital amounted to CHF 66,154,167. It is divided into 6,015,000 listed A registered shares each with a nominal value of CHF 10.00 and 6,004,167 unlisted B registered shares each with a nominal value of CHF 1.00.

 

31.12.2015 No. of shares

31.12.2015 Capital (CHF)

31.12.2016 No. of shares

31.12.2016 Capital (CHF)

A registered shares, nom. CHF 10

6,015,000

60,150,000

6,015,000

60,150,000

B registered shares, nom. CHF 1

6,004,167

6,004,167

6,004,167

6,004,167

Total share capital

12,019,167

66,154,167

12,019,167

66,154,167

 

VP Bank does not have any authorised or conditional capital.

 

 

Prominent shareholders (anchor shareholders)

As at 31 December 2016 the following shareholders declared that they held more than 10% of the share capital of VP Bank and/or exercised more than 5% of the associated voting rights:

Shareholders

A reg'd share

Breg'd share

Votes

% of shares

% of capital

"Stiftung Fürstl. Kommerzienrat Guido Feger" foundation, Vaduz

1,066,426

4,530,047

5,596,473

46.6%

23.0%

"U.M.M. Hilti-Stiftung" foundation, Schaan

546,409

658,370

1,205,088

10.0%

9.3%

"Marxer Stiftung für Bank- und Unternehmenswerte" foundation, Vaduz

756,381

0

756,381

6.3%

11.4%

Analyst coverage – under the analyst's microscope

Company

Assessment

Analyst

Telephone

MIRABAUD Securities LLP

buy

Andreas Brun

+41 58 816 88 76

Zürcher Kantonalbank

overweight

Javier Lodeiro

+41 44 292 24 07

Contact us

Do you have questions regarding our investor relations? If so you can contact us easily by telephone, e-mail or contact form. Your contact person is Tanja Muster, Head of Group Communications & Marketing.
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