Wieso die Dividende der Zuger KB mehr wert ist

The interest rate business is under pressure, but the profit remains unchanged. Investors benefit from a partially tax-exempt dividend.
For the first time, the Zuger Kantonalbank (ZGKB) is paying part of the dividend from the capital reserves. Because this is tax-exempt for private investors in Switzerland, it works like a dividend increase.

The persistently low interest rates are increasingly weighing on the success of interest rates, the core business of Zuger Kantonalbank. In 2019, it generated a profit at the previous year's level. This is also due to the fact that it was able to expand other lines of business and created fewer reserves than in the previous year. The shareholders are to receive an unchanged dividend of CHF 220. This corresponds to a return of 3.5% at the current price level.