Shareholder Perks in Switzerland: Complimentary Benefits at Swiss AGMs Explained

Annual general meetings (AGMs) are normally a pretty solemn affair. But in a bid to maintain relationships with investors, some Swiss companies spice up their AGMs with interesting programs and shareholder perks.

Companies walk a fine line when choosing their shareholder perks. If these are too attractive, the company runs the risk of attracting bargain hunters and AGM crashers. After all, it takes just one share to make someone a shareholder.

There are Swiss investors – primarily retirees – who make a hobby of traveling around Switzerland just to attend AGMs. Companies which offer attendees dividends in kind in addition to good food are especially popular. In some cases, even transportation to AGMs is covered by the company.

Examples of companies which cover the cost of getting to AGMs include the Hypothekarbank Lenzburg, the Luzerner Kantonalbank (LUKB), the Swiss National Bank (SNB), Swiss Life, the Thurgauer Kantonalbank (TKB) and VP Bank. Some only cover transportation within a certain region. For example, LUKB shareholders only get complimentary tickets for the Passepartout fare network region. The SNB, on the other hand, provides its shareholders with first class day passes which are valid for the whole of Switzerland.

Some companies organize free shuttle busses from train stations to their AGMs. Examples include the LUKB, Rieter, the St. Galler Kantonalbank (SGKB), and VP Bank. Some companies do not cover transportation, but do provide free parking for AGM attendees. Vaudoise and Schaffner are two examples.

But do the annual general meetings of Swiss companies have anything to offer? To find out, moneyland.ch surveyed companies listed on the stock exchange.

The shareholder feast

All of the companies included in the survey provide refreshments for AGM attendees. While some companies limit this to an apéro, shareholders of other companies enjoy a veritable feast.

Swiss companies which offer an apéro at AGMs include Calida, Swiss Life, and Swissquote.

Some corporations go a step further, spoiling their shareholders with a more substantial apéro riche. These include Allreal, APG SGA, Baloise, the Berner Kantonalbank (BEKB), Cembra Money Bank, Edisun Power, Flughafen Zürich, the Banque Cantonale de Genève, Investis, Komax, Leonteq, Mobilezone, Mobimo, the NZZ Mediengruppe, Phoenix Mecano, Rieter (includes dessert), Schaffner, Sulzer, Swisscom, TX-Group, Valiant, Vaudoise, and VP Bank (includes tastings of products from its partners).

Allreal and Sulzer also offer a buffet. The SNB provides a stand-up lunch. Many companies also offer AGM attendees things like coffee, croissants, fruit, and soft drinks ahead of or during the meeting.

Full-course meals

Shareholders of some Swiss companies even get to enjoy a full-course lunch or dinner. That is true for shareholders of Burkhalter, Coltene, Emmi (salad, Raclette, dessert), the Hypothekarbank Lenzburg (three-course meal in a Lenzburg Restaurant), the LUKB (three-course meal and nightcaps), the NZZ Mediengruppe, Pierer Mobility, SFS Group, the SGKB (various food service points), Sulzer, and the TGKB (three-course meal made from regional products).

Meals are normally served after the general meeting, probably as a means of preventing snoring shareholders from disrupting presentations.

Gifts for shareholders

Some firms have made a name for themselves in the AGM scene thanks to their popular shareholder gifts. Sought-after dividends in kind include free cable car rides (like those offered by VP bank), the box of chocolates from Lindt & Sprüngli, the free pajamas from Calida, the free watch from Swatch, the books from the NZZ Mediengruppe, and vouchers for spas and hotels.

Unfortunately for bargain hunters, the majority of surveyed companies do not offer extra freebies on top of food and refreshments.  

But shareholders of companies like Allreal, APG SGA, BEKB, Cembra Money Bank, Coltene, Edisun Power, the Hypothekarbank Lenzburg, Komax, Schaffner and Swisscom can still expect some chocolates or other sweets. Emmi offer participants the chance to take home a selection of its products. Georg Fischer and the VP Bank give their shareholders regional products as dividends in kind. Mobilezone also offers a gift (a Mobilezone Monopoly game and a voucher). The SFS Group hosts a raffle in which participants can win small gifts. The TX Group gives AGM attendees a discount on its digital Finanz und Wirtschaft subscription.

Important: Most companies only give gifts to shareholders who participate in AGMs. In many cases, presents are only handed over at the end of the event, in order to prevent an early exodus of shareholders from the meeting. Calida is an exception: You do not have to participate in the AGM in order to receive its gift of nightwear. However, you do have to own at least 20 Calida shares to benefit from this dividend in kind.

Entertainment

Most Swiss companies take their AGMs very seriously. But a few companies liven up the somewhat monotonous presentations with entertainment. This may include musical entertainment, which you can find at the AGMs of companies like the BEKB, Flughafen Zürich (the Zurich Airport Orchestra), Rieter, Sulzer, the TKB, and the VP Bank. Some companies also offer special presentations, video presentations, and other shows which are not directly connected to the company’s business. For example, shareholders attending the NZZ Mediengruppe’s AGM can enjoy a talk on current themes given by the Neue Zürcher Zeitung’s editor in chief.

Offers can change from year to year

Many companies do not follow the same program or offer identical gifts every year. For example, a company may organize a dinner event one year, and an apéro riche the next year.

Since the coronavirus pandemic, in particular, some companies have stopped holding physical AGMs altogether, putting an end to shareholder perks like food and entertainment.

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