Azimut, an Italian asset management company, could close 2017 with "the second best profit in the history of the group, at a figure between 215 and 225 million euros". The company then announced an ordinary dividend, still subject to the approval of the board of directors and the shareholders' meeting, equal to 2 euros per share (double compared to 2016).
50% of the dividend will be paid in cash while the remainder will be paid in kind through the use of treasury shares in the portfolio, based on the ratio that will be defined by the BoD at the time of the resolution.
This is a dividend proposal equivalent to a payout of more than 100% and a yield of 12%. In 2017, Azimut recorded record net inflows of 6,8 billion, with total assets exceeding the 50 billion euro threshold (50,4 billion; +16% compared to the end of 2016).
The announcement of the company made the stock soar on the Stock Exchange: +Present in several = 12,58%
The target indicated in the five-year business plan, envisaged for the end of 2019, was achieved two years in advance. Furthermore, the target set at the end of the plan has already been "fully achieved and exceeded" (ie, for 2019) relating to the total assets of the group's foreign assets. Also in the light of these results, the CEO Sergio Albarelli confirmed the last remaining target to be achieved in the current five-year plan, i.e. the achievement of a consolidated net profit of the group of 300 million expected by 2019.
“We archive a 2017 of great satisfactions and records. The proposal to distribute a dividend of 2 euros per share reflects our commitment to continue rewarding shareholder confidence and is an expression of how much we believe in the value of our stock, currently undervalued, whose great growth potential will benefit shareholders ”.
“The positive effects of all the activities launched in 2017 will manifest themselves even more clearly during the new year, which opens under the best auspices in a climate of shared enthusiasm. The Montecarlo convention", explained Albarelli, "which brought together all the consultants, managers and analysts from the 17 countries of the world where we are present, showed a compact and united group around its founding values, independence and partnership, which we are certain they will allow us to successfully face the challenges that 2018 will bring with it”.
