The dividend is the portion of the profit paid by the company to its shareholders.
Payment of annual dividends is subject to approval by the holders of Ordinary Shares at the annual general shareholders’ meeting, which must be held within 180 days after the end of the financial year to which it relates (pursuant to article 18, second paragraph, of the Company’s Bylaws).
Dividend Policy for 2020 (elaborated on the basis of the 2019 financial results)
The Shareholders’ Meeting held on April 23, 2020, resolved, for the 2019 financial year:
- to allocate 5% of the profit for the financial year to the legal reserve;
- to allocate to distribution the remaining 2019 profit for payment to shareholders of an overall dividend calculated based on the following amounts, that will be applied to the number of ordinary and savings shares held by the same at the record date (excluding therefore treasury shares held by the Company):
- 0.0100 euros (gross of witholding tax) for each ordinary share,
- 0.0275 euros (gross of witholding tax) for each savings share;
- to pay the dividend payable starting from 24 June 2020, with coupon date 22 June 2020 (record date 23 June 2020);
- to carry forward the residual profits.
Dividends paid to ordinary shares and savings shares
The following table sets forth the dividends paid to both classes of shares with respect to each of the last five financial years (the dividend history is available here or at the bottom of the page) and the aggregate amounts paid in each year. The dividends paid are rounded down to the nearest whole cent.