Meeting day for Banca Ifis, Cementir, Italgas and Luxottica. The shareholders are called to approve financial statements and dividends and in some cases to renew the corporate bodies. But let's see in more detail.
ITALGAS, GALLO DOES NOT EXCLUDE BOND RETAIL
Approved with a majority close to 100%, the 2017 consolidated accounts show total revenues of 1,124 billion (+4,3%), an adjusted EBITDA of 781,2 million (+14%), an adjusted Ebit of 422,9 million (+17,9%) and an adjusted net profit of €296,4 million, up 34% on the previous year. The shareholders' meeting also approved a dividend of €0,208 per share, up 4% on last year. The dividend yield calculated on the official price at the end of 2017 is 4,1%.
“A dividend review policy, obviously an improvement, will be taken into consideration with the update of the industrial plan, in mid-June with a horizon to 2024”, said the managing director Paolo Gallo during the meeting. “I am not ruling out some future issues also for the retail market – he added – but they must be evaluated because they have different characteristics”.
In the extraordinary part of the meeting, a free share capital increase was approved by a majority, to be reserved for employees of Italgas and/or group companies, for a nominal amount of up to 4,96 million euro, through the assignment of a corresponding amount drawn from profits or from profit reserves, with the issue of no more than 4 million ordinary shares. The increase is in service of the 2017-2023 plan.
LUXOTTICA, NEW BOD IN OFFICE FOR ONE YEAR
The Luxottica shareholders' meeting approved the 2017 financial statements and appointed the new board who will remain in office for one financial year (until the approval of the 2018 financial statements). The renewed board is made up of Leonardo del Vecchio (president), Luigi Francavilla (vice president), Francesco Milleri (vice president and CEO), Stefano Grassi, Elisabetta Magistretti, Maria Perdicchi, Sabrina Pucci, Karl Heinz Salzburger, Luciano Santel, Cristina Scocchia and Andrea Zappia, all proposed by shareholder Delfin. The director proposed by Assogestioni, Marco Giorgino, also joins the board. The new board of statutory auditors has also been appointed.
CEMENTIR, A REPRESENTATIVE OF THE FUNDS ON THE BOD
Green light from the Cementir Holding shareholders' meeting for the 2017 financial statements closed with a profit of 71,5 million. The board of directors led by Francesco Caltagirone jr has been renewed with the novelty of the entry of a representative of minority institutional investors, Adriana Floristan. Dividend of 10 cents per share confirmed.
BANCA IFIS, DIVIDEND OF 1 EURO
The Banca Ifis shareholders' meeting approved the distribution of a dividend of 1 euro per share with coupon detachment on 23rd April, record date on 24th April and payment the following day. The net profit of the reference group amounted to 180 million. In addition to the decision on the distribution of the dividend, the meeting took note of the group's remuneration policies.
