The 2021 dividend season in Piazza Affari it could be a lot richer than expected, with listed companies that by the end of 2021 could be distributing coupons for € 17,3 billion, a figure that was unthinkable until a few weeks ago. This is supported by Il Sole 24 Ore which, quoting Intermonte's calculations, also proposes a return overall up sharply to 3,5%, one of the highest percentages among the international stock exchanges.
DIVIDENDS 2021: THE FORECASTS
17,3 billion euros – they said – 3,7 billion less than the record reached in 2021. A sum which, however, bodes well for the future given that, making the comparison with 2020, the increase is 4,3 billion euros. Last year, the economic crisis triggered by the pandemic strongly impacted the financial statements of listed companies. To this was added the stop imposed by the Authorities to banks and insurance companies that did not have to suspend the disbursement of coupons to conserve liquidity and channel it to the real economy. 2021, however, seems to be playing a different music.
Last month, the first round of coupons was triggered in Piazza Affari which, after the dividend day of 19 April (the day in which companies of the caliber of Banco Bpm, Campari, Cnh, Ferrari, Stellantis and Unicredit were detached) brought the total dividend to 2,8 billion euros. Another 24 will be added on 5 May, thanks to the detachments of 90-strong players such as Generali, Intesa Sanpaolo and Eni. However, the bulk could arrive in the autumn when thanks to the profits made this year and the progression of the vaccination campaigns, the constraints imposed by the ECB on the banks could be eliminated. At that point, the credit institutions could proceed with the payment of the dividends valid for last year (on the profits of 2019), but also with an advance on the profits accrued in 2021. An eventuality already foreseen by Intesa Sanpaolo and perhaps also by Banca Mediolanum , Fineco and Generali.
YIELDS ALSO UP
Furthermore, if all goes according to forecasts, "The dividend yield of Piazza Affari could reach 3,5% again starting this year," Dario Grillo, co-managing director and head of the markets area, explained to Il Sole 24 Ore. of Intermonte Sim, which for the next few years estimates returns of 3,7% in 2022, 3,6% in 2023 and 3,5% in 2024.
