3.2 Share capital and treasury shares
Share capital
There are still 10,600,000 fully paid-up registered shares with a par value of CHF 10.00 each.
There is a shareholders’ agreement for 67.0 per cent of the 10.6 million registered shares of TX Group AG. The members to the shareholders’ agreement currently own 69.10 per cent of the shares.
On 14 April 2023, the shareholders approved the proposal of the Board of Directors that a dividend of CHF 4.50 per share be distributed for the 2022 financial year. For the 2023 financial year, the Board of Directors will recommend to the Annual General Meeting of 19 April 2024 that a dividend of CHF 6.20 should be paid. The recommended dividend comprises a special dividend in the amount of CHF 4.20 and a regular dividend in the amount of CHF 2.00 per share.
Disclosures on the major shareholders of TX Group AG in accordance with the terms of the Swiss Code of Obligations Art. 663c are provided in Note 17 to the financial statement of TX Group AG.
Treasury shares
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Number of treasury shares | ||||||
| As of 1 January | – | 5 709 | ||||
| Additions | 9 633 | 1 140 | ||||
| Disposals | (846) | (6 849) | ||||
| As of 31 December | 8 787 | – | ||||
| Initial value of treasury shares | in CHF mn | |||||
| As of 1 January | – | 0.7 | ||||
| Additions | 1.0 | 0.1 | ||||
| Disposals | (0.1) | (0.8) | ||||
| As of 31 December | 0.9 | – | ||||
| Market value | 1.1 | – | ||||
| Paid / received prices | in CHF | |||||
| Additions (weighted average) | 107.51 | 125.55 | ||||
| min. | 88.45 | 110.29 | ||||
| max. | 153.06 | 138.23 | ||||
| Disposals (weighted average) | 149.20 | 118.77 | ||||
| min. | 149.20 | 106.34 | ||||
| max. | 149.20 | 155.21 |
The year-end price of treasury shares was CHF 119.6, compared to CHF 149.4 at the end of the previous year.
As part of the profit participation programme for Group Management (see also Note 1.3), 846 treasury shares with a total value of CHF 0.1 million were transferred. In total, 9,633 additional treasury shares were purchased in the 2023 financial year. As of the reporting date, 8,787 treasury shares are held.