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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/stable/A–1 (as at 17 May 2018, confirmed 9 August 2018) 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.

Chart

Kursentwicklung

Key share data

Semester summary of key financial ratios

  31.12.2016 30.06.2017 31.12.2017 30.06.2018 31.12.2018
Group net income per A registered share in CHF 9.61 5.22 10.89 4.82 9.04
Shareholder's equity per A registered share in CHF 157.14 156.78 165.33 157.70 164.80
Trading price per A registered share in CHF 108.00 118.70 133.00 188.80 141.40
Trading price per B registered share in CHF 10.80 11.90 13.30 18.90 14.20
Market capitalisation in CHF million 714 785 880 1,249 936
Price-earnings ratio per A registered share in CHF 11.24 11.37 12.21 19.60 15.64
Price-earnings ratio per B registered share in CHF 11.24 11.40 12.21 19.63 15.71
Dividend per A registered share in CHF 4.50 n.a 5.50 n.a. 5.50*
Dividend per B registered share in CHF 0.45 n.a 0.55 n.a. 0.55*
Payout ratio (as a percentage of consolidated earnings) 46.80% n.a 50.5% n.a. 60.8%
Net dividend yield 4.20% n.a 4.10% n.a. 3.90%
Free float 44.42% 46.31% 49.37% 52.41% 50.62%

*subject to approval by the annual general meeting

Five-year summary of key financial ratios

  2014 2015 2016 2017 2018
Group net income per A registered share in CHF 3.45 10.17 9.61 10.89 9.04
Shareholder's equity per A registered share in CHF 149.98 154.01 157.14 165.33 164.80
Trading price per A registered share in CHF 85.00 82.00 108.00 133.00 141.40
Trading price per B registered share in CHF 8.50 8.20 10.80 13.30 14.20
Market capitalisation in CHF million 503 542 714 880 936
Price-earnings ratio per A registered share in CHF 24.65 8.06 11.24 12.21 15.64
Price-earnings ratio per B registered share in CHF 24.65 8.06 11.24 12.21 15.71
Dividend per A registered share in CHF 3.00 4.00 4.50 5.50 5.50*
Dividend per B registered share in CHF 0.30 4.00 0.45 0.55 0.55*
Payout ratio (as a percentage of consolidated earnings) 87.00% 39.30% 46.80% 50.5 % 60.8%
Net dividend yield 3.50% 4.90% 4.20% 4.10 % 3.90%
Free float 53.12% 40.02% 44.42% 49.37 % 50.62%

*subject to approval by the annual general meeting

Capital structure

VP Bank's share capital amounts 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.

 

31.12.2017
No. of shares

31.12.2017
Capital (CHF)

31.12.2018
No. of shares

31.12.2018
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 2018 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

reg'd share A

reg'd share B

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

547,170

658,370

1,205,540

10.0%

9.3%

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

756,764

0

756,764

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

outperform

Javier Lodeiro

+41 44 292 24 07

Research Partners AG buy Rainer Skierka +41 44 533 40 30

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 Cécile Bachmann, Head of Group Communications & Marketing.
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