Credit Suisse : Le Conseil d'administration adapte sa proposition de dividende pour l'Assemblée générale ordinaire 2020

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En réponse à une demande de la FINMA, le Conseil d'administration soumet une nouvelle proposition de dividende à l'Assemblée générale de cette année. En lieu et place du dividende brut total de 0.2776 franc par action initialement annoncé le 25 mars 2020, soit un total de 678 millions de francs^[i], le Conseil d'administration propose désormais une distribution en espèces de 0.1388 franc brut par action, dont une moitié proviendra des réserves en bénéfice^[ii] et l'autre des réserves issues d'apports en capital^[iii]. À l 'automne 2020, le Conseil d'administration envisage de proposer une seconde distribution en espèces de 0.1388 franc brut par action, qui sera soumis à l'approbation des actionnaires lors d'une Assemblée générale extraordinaire qui se tiendra à ce moment-là, pour autant que les conditions du marché et la conjoncture économique le permettent.

Bien que le Conseil d'administration reste d'avis que la solidité financière du Credit Suisse soutiendrait la proposition initiale en matière de dividende faite à nos actionnaires, nous pensons que cette réponse à la demande de la FINMA, en alignement avec des décisions similaires prises par nos concurrents, est une étape prudente et responsable en vue de préserver le capital face aux défis posés par la pandémie du Covid-19, qui permet une évaluation plus complète de l'ampleur de l'impact économique de cette crise plus tard dans l'année. Sous réserve de confirmation de cette évaluation et de l'approbation future par nos actionnaires, le dividende cumulé en résultant pour 2020 serait conforme à notre intention d'augmenter le dividende d'au moins 5% par an.

Afin de mettre en œuvre ce changement, le Conseil d'administration a par ailleurs modifié ses propositions relatives au point de l'ordre du jour concernant le dividende et devant être soumis à l'Assemblée générale ordinaire du 30 avril 2020 de la façon suivante:

1. 3. Utilisation du bénéfice résultant du bilan et distribution ordinaire d'un dividende provenant du bénéfice résultant du bilan et des réserves d'apports en capital

   Le Conseil d'administration propose d'utiliser comme suit le bénéfice disponible résultant du bilan de CHF 8 534 millions et de distribuer un dividende total ordinaire de CHF 0.1388 brut par action nominative provenant pour moitié du bénéfice résultant du bilan et pour moitié des réserves issues d'apports en capital.

Toutes les autres propositions du Conseil d'administration restent inchangées.

Les actionnaires qui ont déjà donné des instructions et ne souhaitent pas les modifier n'ont pas besoin d'entreprendre quoi que ce soit. Leurs instructions au représentant indépendant sont considérées comme étant également valables pour la nouvelle proposition de dividende. Les actionnaires qui ont déjà donné des instructions de vote au représentant indépendant et veulent les modifier peuvent le faire en demandant, d'ici au 21 avril 2020, un nouveau formulaire de procuration ou de nouvelles données d'accès à notre portail des actionnaires à travers le registre des actions de Credit Suisse Group AG. Toute modification des instructions au représentant indépendant doit être soumise jusqu'au lundi 27 avril 2020.

Une invitation modifiée de l'Assemblée générale reflétant la nouvelle proposition de dividende et de plus amples informations sont disponibles sur le site www.credit-suisse.com/agm.

Marche des affaires

Le Credit Suisse doit annoncer ses résultats du premier trimestre 2020 le 23 avril 2020.

Dans l'intervalle, nous confirmons la validité des informations résumées remises dans notre rapport d'activité le 19 mars 2020 ainsi que les commentaires supplémentaires sur la marche actuelle de nos affaires et sur nos perspectives fournies dans notre rapport annuel du 25 mars 2020.

[i] Sur la base de 2 441 022 237 actions nominatives émises au 31 décembre 2019, net des actions détenues en propre par la société

[ii] Net de l'impôt anticipé suisse de 35%

[iii] Exempt de l'impôt anticipé suisse et non soumis à l'impôt sur le revenu pour les personnes physiques résidant en Suisse

Credit Suisse

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,860 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Important information

We may not achieve all of the expected benefits of our strategic initiatives. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other challenges discussed in our public filings, could limit our ability to achieve some or all of the expected benefits of these initiatives.

In preparing this document, management has made estimates and assumptions that affect the information presented. Actual results may differ. Figures throughout this document may also be subject to rounding adjustments. This document contains certain statements regarding preliminary financial information for the first quarter of 2020 that has been derived from management accounts, is preliminary in nature, may not reflect the complete results of the first quarter of 2020 and is subject to change. These preliminary results are not necessarily indicative of the results to be reported for the first quarter of 2020. There can be no assurance that the final reported results for this period will not differ from these preliminary results, and any such differences could be material. All opinions and views constitute judgments as of the date of writing without regard to the date on which the reader may receive or access the information. This information is subject to change at any time without notice and we do not intend to update this information.

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Cautionary statement regarding forward-looking information

This document contains statements that constitute forward-looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:

• our plans, targets or goals;
• our future economic performance or prospects;
• the potential effect on our future performance of certain contingencies; and
• assumptions underlying any such statements.

Words such as 'believes,' 'anticipates,' 'expects,' 'intends' and 'plans' and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, targets, goals, expectations, estimates and intentions expressed in such forward-looking statements. These factors include:

• the ability to maintain sufficient liquidity and access capital markets;
• market volatility and interest rate fluctuations and developments affecting interest rate levels, including the persistence of a low or negative interest rate environment;
• the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of continued slow economic recovery or downturn in the EU, the US or other developed countries or in emerging markets in 2020 and beyond;
• the emergence of widespread health emergencies, infectious diseases or pandemics, such as COVID-19;
• the direct and indirect impacts of deterioration or slow recovery in residential and commercial real estate markets;
• adverse rating actions by credit rating agencies in respect of us, sovereign issuers, structured credit products or other credit-related exposures;
• the ability to achieve our strategic goals, including those related to our targets, ambitions and financial goals;
• the ability of counterparties to meet their obligations to us and the adequacy of our allowance for credit losses;
• the effects of, and changes in, fiscal, monetary, exchange rate, trade and tax policies, as well as currency fluctuations;
• political, social and environmental developments, including war, civil unrest or terrorist activity and climate change;
• the ability to appropriately address social, environmental and sustainability concerns that may arise from our business activities;
• the effects of, and the uncertainty arising from, the UK's withdrawal from the EU;
• the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;
• operational factors such as systems failure, human error, or the failure to implement procedures properly;
• the risk of cyber attacks, information or security breaches or technology failures on our business or operations;
• the adverse resolution of litigation, regulatory proceedings and other contingencies;
• actions taken by regulators with respect to our business and practices and possible resulting changes to our business organization, practices and policies in countries in which we conduct our operations;
• the effects of changes in laws, regulations or accounting or tax standards, policies or practices in countries in which we conduct our operations;
• the expected discontinuation of LIBOR and other interbank offered rates and the transition to alternative reference rates;
• the potential effects of changes in our legal entity structure;
• competition or changes in our competitive position in geographic and business areas in which we conduct our operations;
• the ability to retain and recruit qualified personnel;
• the ability to maintain our reputation and promote our brand;
• the ability to increase market share and control expenses;
• technological changes instituted by us, our counterparties or competitors;
• the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;
• acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets; and
• other unforeseen or unexpected events and our success at managing these and the risks involved in the foregoing.

We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, including the information set forth 'Risk factors' in I- Information on the company in our Annual Report 2019.

Disclaimer

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

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