The Swiss investment company invested successfully in 2020. Profit increased compared to the previous year, which also has an impact on the dividend it will pay to shareholders.
Based on unaudited consolidated figures, BB Biotech posted a profit of about 691 million Swiss francs ($781 million) in fiscal 2020, up from 677 million a year earlier, the company said Friday. For an investment company, the result reflects the share price performance of the companies held in the portfolio.
Against this background, the board of directors intends to propose a regular dividend of 3.60 francs per share at the annual general meeting. This corresponds to a dividend yield of 5 percent on the volume-weighted average price of BB Biotech's share in December 2020 and is in line with the dividend policy introduced in 2013. In the previous year, a dividend of 3.40 francs had been paid.
Industry-Leading Investment Returns Expected
Portfolio reporting will be published on January 22, 2021. The full annual report will be published on February 19, 2021.
BB Biotech's investment team believes the growth scenario remains intact, both for the biotech industry as a whole and for the company itself. It is therefore confident that BB Biotech will continue to be able to generate industry-leading investment returns in the future. It expects a successful year in global product approvals in 2021 and is eagerly awaiting news from portfolio companies, it added.
