Dividend distribution for the year 2021

The favourable economic backdrop and the financial solidity achieved by the Group have paved the way for a return to a shareholder remuneration policy: based on the results of 2021, the Board of Directors has proposed to the next Shareholders’ Meeting, convened on 28 April 2022, the distribution of a unit dividend of € 0.085 for each ordinary share (net of treasury shares) outstanding at the record date, for a total of approximately € 22.1 million[9], equal to a pay-out of 50% of the consolidated net profit and a dividend yield of 4.2% (at 31 December 2021).

The dividend will be paid, in accordance with the provisions of the “Regulation of the markets organized and managed by Borsa Italiana S.p.A.”, from 25 May 2022 (payment date), with ex-coupon (no. 21) date on 23 May 2022 (ex date) and with the date of entitlement to payment of the dividend, pursuant to Article 83-terdecies of the TUF (record date), on 24 May 2022.

For the next three years 2022-2024, the target will be a distribution of 40% of the Ordinary Cash Flow per year, maintaining a minimum floor equal to the Dividend Per Share of 2021.

Financial YearCoupon detachmentDividends payable fromGross dividend per ordinary shareExtraordinary dividendGross dividend per saving shareEPS*Pay out**
20212022-05-232022-05-250.0850.170.50
2020 – –0.017
2019 – –0.112
2018 – –(0.677)
2017 – –0.116
2016 – –0.086
2015 – –0.024
2014 – –0.002
2013 – –
2012 – –
2011 – –0.21
20102011-05-232011-05-260.170.180.98
2009 – –0.14
2008 – –0.41
20072008-05-192008-05-220.350.470.76
20062007-05-212007-05-240.350.450.79
20052006-05-222006-05-250.350.250.481.28
20042005-05-232005-05-260.350.460.76
20032004-05-242004-05-270.30.340.88
20022003-05-192003-05-220.250.252.11
20012002-05-202002-05-230.220.40.620.28
20002001-05-212001-05-240.210.250.270.93

* EPS: consolidate profit dividend by the total number of shares
** Pay out: calculated on consolidated net income