LLB General Meeting 2024 – shareholders approve all motions

Liechtensteinische Landesbank / LLB / Key word(s): AGMEGM LLB General Meeting 2024 – shareholders approve all motions 19.04.2024 / 21:15 CET/CEST Vaduz, 19 April 2024. The shareholders of Liechtensteinische Landesbank AG (LLB) approved all motions put forward by the Board of Directors at the 32nd General Meeting of Shareholders. As a result, the dividend paid by LLB increased from CHF 2.50 to CHF 2.70. The Chairman of the Board of Directors, Georg Wohlwend, and the Board members Richard Senti and Thomas Russenberger were re-elected.

The 2023 annual financial statements were approved at the General Meeting by a large majority of the roughly 740 shareholders in attendance, representing 73.39 per cent of the voting share capital. In addition, the LLB shareholders also discharged the Board of Directors, the Board of Management and the independent auditor KPMG Liechtenstein AG. Furthermore, KPMG was elected for a further year as independent auditor and Group auditor of the LLB Group.

Dividend increased by 8 per cent

The shareholders approved the proposal of the Board of Directors for the appropriation of the 2023 net profit of CHF 102,706,545.05. As a result, the dividend increased by 8 per cent from CHF 2.50 to CHF 2.70. The dividend yield amounts to 4.1 per cent. This will benefit not only investors and private shareholders, but also the Principality of Liechtenstein as the main shareholder. In 2023 the State was paid dividends, taxes and levies totalling CHF 45.2 million, which was welcomed with great satisfaction by Liechtenstein's Prime Minister Dr Daniel Risch, as the representative of the main shareholder at the General Meeting.

Re-elections to the Board of Directors

The three-year term of office held by the Chairman of the Board of Directors, Georg Wohlwend, and the Board members Richard Senti and Thomas Russenberger came to an end with the General Meeting. The General Meeting approved the motion of the Board of Directors and re-elected the three individuals for a further term of office on the seven-member board.