Asset manager Bellevue has achieved a significant increase in profits in 2020. Shareholders will not receive a higher dividend.
Bellevue has recorded a significant increase in profit and assets under management in 2020. Net profit reached about 22 million Swiss francs ($24.7 million), Bellevue Group announced Friday. This is an increase of 60 percent compared to the previous year.
However, the figures are only comparable to a limited extent, as the 2019 result was impacted by a loss at Bank am Bellevue. Operating profit rose 14 percent to 46 million francs in 2020.
Money From Sale of Bank
As known, the bank is now in the hands of Luxembourg-based Quintet; and Bellevue shareholders will be reimbursed. In addition to a 20 percent increase in the ordinary dividend to 1.50 francs per share, the board of directors is also proposing a special dividend of 2.50 francs per share from the sale of the bank.
Bellevue will thus distribute more than 53 million francs to shareholders in the Corona year 2020; 33.5 million francs from the Quintet transaction.
Bellevue further announced that it had increased assets under management by 13 percent to 12 billion francs. Bellevue will publish the final results on March 2.
