As at 31 December 2013 Swisscom’s market capitalisation totalled CHF 24.4 billion (prior year: CHF 20.4 billion), with the number of shares outstanding at 51.8 million. Par value per registered share is CHF 1. Each share entitles the holder to one vote. Voting rights can only be exercised if the shareholder is entered in the share register of Swisscom Ltd with voting rights. The Board of Directors may refuse to enter a shareholder with voting rights if such voting rights exceed 5% of the company’s share capital.
Swisscom share
| 31.12.2013 | 31.12.2012 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Number of Shareholders |
Number of Shares |
Share in % |
Number of Shareholders |
Number of Shares |
Share in % |
|||||||
| Confederation | 1 | 26,535,500 | 51.2% | 1 | 29,410,500 | 56.8% | ||||||
| Natural person | 63,531 | 4,453,496 | 8.6% | 65,591 | 4,624,737 | 8.9% | ||||||
| Institution | 2,614 | 20,812,947 | 40.2% | 2,653 | 17,766,706 | 34.3% | ||||||
| Total | 66,146 | 51,801,943 | 100.0% | 68,245 | 51,801,943 | 100.0% | ||||||
The majority shareholder as at 31 December 2013 was the Swiss Confederation, with 51.2% of the voting rights and capital. By law, the Swiss Confederation must hold the majority of the capital and voting rights. As at 31 December 2013, around 97% of the registered shareholders were from Switzerland.
Stock exchanges
Swisscom shares are listed on the SIX Swiss Exchange under the symbol SCMN (Securities No. 874251). In the United States they are traded in the form of American Depositary Receipts (ADR) at a ratio of 1:10 (Over The Counter, Level 1) under the symbol SCMWY (Pink Sheet No. 69769).
Share performance
The Swiss Market Index (SMI) gained 20.2% compared with the previous year. The Swisscom share price increased by 19.6% to CHF 470.90, performing below the European Stoxx Europe 600 Telecommunications Index (34.1% in CHF; 32.1% in EUR). Average daily trading volume rose year-on-year by 3.9% to 103,940 shares. Total trading volume of Swisscom shares in 2013 amounted to CHF 11.1 billion.
See
Shareholder return
On 11 April 2013 Swisscom paid out an ordinary dividend of CHF 22 per share. Based on the closing price at the end of 2012, this equates to a return of 5.6%. Taking into account the rise in share price, Swisscom achieved a total shareholder return (TSR) of 25.8% in 2013. The TSR for the SMI was 22.9% and for the Stoxx Europe 600 Telecommunications Index 41.2% in CHF and 39.1% in EUR.
Swisscom share performance indicators
| 2009 | 2010 | 2011 | 2012 | 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Par value per share at end of year | CHF | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | ||||||
| Number of issued shares at end of period | in thousand | 51,802 | 51,802 | 51,802 | 51,802 | 51,802 | ||||||
| Market capitalisation at end of year | in CHF million | 20,491 | 21,296 | 18,436 | 20,400 | 24,394 | ||||||
| Closing price at end of period | CHF | 395.60 | 411.10 | 355.90 | 393.80 | 470.90 | ||||||
| Closing price highest | CHF | 400.90 | 420.80 | 433.50 | 400.00 | 474.00 | ||||||
| Closing price lowest | CHF | 293.50 | 358.00 | 323.10 | 334.40 | 390.20 | ||||||
| Earnings per share | CHF | 37.47 | 35.00 | 13.19 | 34.90 | 32.53 | ||||||
| Ordinary dividend per share | CHF | 20.00 | 21.00 | 22.00 | 22.00 | 22.00 1 | ||||||
| Ratio payout/earnings per share | % | 53.38 | 60.00 | 166.79 | 63.04 | 67.63 | ||||||
| Equity per share at end of year | CHF | 113.91 | 102.89 | 82.47 | 79.77 | 115.30 | ||||||
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1 In accordance with the proposal of the Board of Directors to the Annual General Meeting.
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Payout policy
Swisscom seeks to achieve a steady dividend payout per share. Subject to meeting its financial targets, Swisscom plans to pay a dividend per share at least on a par with the previous year.
At the forthcoming Annual General Meeting on 7 April 2014, the Board of Directors will propose an ordinary dividend of CHF 22 per share (previous year: CHF 22 per share). This is equivalent to a total dividend payout of CHF 1,140 million.
Since going public in 1998 Swisscom has distributed a total of CHF 26.2 billion to its shareholders: CHF 14.2 billion in dividend payments, CHF 1.6 billion in capital reductions and CHF 10.4 billion in share buybacks. Swisscom has paid out a total of CHF 279 per share since the initial public offering. Together with the overall increase in share price of CHF 130.90 per share, this amounts to an average annual total return of 5.3%.
Analysts’ recommendations
Investment specialists analyse Swisscom’s business performance, results and market situation on an ongoing basis. Their findings and recommendations offer valuable indicators for investors. 23 analysts regularly publish studies on Swisscom. At the end of 2013, 43% of the analysts recommended a buy rating for the Swisscom share, 48% a hold rating and 9% a sell rating. The average price target at 31 December 2013, according to the analysts’ estimates, was CHF 463.