ZURICH (dpa-AFX) - Insurer Swiss Life Group (SZLMY.PK, SLHN.VX) reported that its net profit for the fiscal year 2019 increased 12% to 1.21 billion Swiss francs from 1.08 billion francs last year. The latest-year result included a positive accounting one-off of 49 million francs related to the implementation of the Swiss tax reform in a number of cantons.
Adjusted profit from operations grew 10% to 1.69 billion Swiss in 2019.
Direct investment income was 4.44 billion francs compared to 4.41 billion francs in the prior year.
In addition, Swiss Life will implement a new share buyback programme of 400 million francs from March 2020 to May 2021.
The company's board will propose to the shareholders at the Annual General Meeting on 28 April 2020 an increase of the dividend per share to 20.00 francs per share from the previous year's dividend of 16.50 francs.
The distribution of the ordinary dividend of 15.00 francs per share will take place on 5 May 2020. The repayment of par value of 5.00 francs per share is expected to take place on 24 July 2020.
The company noted that all of its Board Members will stand for reelection at the Annual General Meeting on 28 April 2020.
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