La dividend season it's still a long way off, but the half-yearly reports published by the Ftse Mib companies have already whetted the appetite of investors in Piazza Affari, ready to grab the best coupons that the blue chips will distribute between April and July next year.
The estimates, let's say it right away, are positive. Very generous dividends are also expected for 2020 by the main companies of the Ftse Mib which, despite the growing difficulties of the global economic-financial context, seem willing to remunerate their shareholders with considerable returns.
According to calculations made by The Economy of the Corriere della Sera, the average yield guaranteed by the securities on the main Milanese listing will be equal to 3,8%. A percentage which, when compared with the negative rates and yields of BTPs, represents a veritable enormity.
Wanting to give a general overview of what will happen in the Ftse Mib, according to forecasts, next year 19 out of 40 companies will guarantee a return higher than the weighted average (3,8%).
Queen of dividends in 2020 will be Intesa Sanpaolo which will guarantee its investors a yield of 8,7%, in line with what was done in 2019 but above all with the coupon policy contained in the business plan.
After two years on the top step of the podium, he slipped to second place instead Azimuth, with an estimated yield of 7,7%. Equal third Unipolsai ed Eni, whose yield should be equal to 6,4%. For the colossus led by Claudio Descalzi, however, we must also add "the positive impact of the buyback", he underlines The Economy of the Corriere della Sera. By adding up the coupon and the repurchase of securities, overall Eni could exceed 8%, taking second place immediately behind Intesa. We recall that on 23 September the company has already detached an interim dividend of 43 cents per share (yield 3%), while the balance - another 43 cents - will arrive in May.
Going forward with the classification in fifth place we find Unicredit, whose yield will jump from 2,3% to 5,9%. Sixth Generali (yield 5,4%) which precedes by a whisker the duo formed by Fiat Chrysler e Atlantia. According to estimates, both companies will guarantee a yield of 5,3%. They close the top 10 Snam (5,2%) and Where's Banca (5%).
The securities that will exceed the average yield also include Mediobanca (4,9%), Enel (4,8%), Unipol (4,7%), A2a (4,6%), Poste Italiane (4,6%) , Tenaris (4,4%), Terna (4,3%), Italgas (4,2%) and Pirelli (4%).
There are still six months to go before the official start of the dividend season, but there are already a lot of irons in the fire.
