Swiss watchmaker Swatch's board proposes dividend increase

Swiss watchmaker Swatch's board of directors will propose a dividend of 5.50 Swiss francs per bearer share and 1.10 Swiss francs per registered share at the company's annual general meeting on May 24, it said in a statement on Wednesday.

That is up from 3.50 francs per bearer share and 0.70 francs per registered share the previous year.

In January the company said it expected double-digit sales growth in local currencies this year after sales and profits recovered in 2021.