Schindler Group to Split Stock, Boost Dividend

Zurich, Switzerland - March 8, 2023

Schindler Holding Ltd. (SWX: SCHP) announced today that it will split its shares and increase its dividend payout to shareholders.

The company's board of directors has proposed a 1-for-10 stock split, which will increase the number of shares outstanding from approximately 24.4 million to 244 million. The stock split is subject to shareholder approval at the company's annual general meeting on April 27, 2023.

In addition to the stock split, Schindler also announced that it will increase its dividend payout ratio from 30% to 40%. This means that the company will distribute a larger portion of its earnings to shareholders in the form of dividends.

The stock split and dividend increase are part of Schindler's long-term strategy to enhance shareholder value. The company believes that the stock split will make its shares more accessible to a wider range of investors, while the dividend increase will provide shareholders with a more attractive return on their investment.

Schindler Group is a leading global provider of elevators, escalators, and related services. The company has operations in over 100 countries and employs approximately 60,000 people worldwide.

The company's shares have performed well in recent years, outperforming the broader Swiss market. Schindler's shares have gained over 50% in the past five years, compared to a gain of around 20% for the Swiss Market Index.

The stock split and dividend increase are likely to be well received by investors. The stock split will make Schindler's shares more affordable, while the dividend increase will provide shareholders with a higher return on their investment.

Schindler's shares are currently trading at around CHF 240 per share. The stock split will reduce the share price to around CHF 24 per share.