We have arrived at the time of year that all investors look forward to: la 2023 dividend season. From April to July, the Ftse Mib companies will distribute coupons for a total of € 31 billion, 8 billion more than last year. However, not only the total amount will rise, but also the yields, with a dividend yield which will be greater than 5%.
Dividends 2023: 1.600 billion coupons will be distributed worldwide
For companies listed on the stock exchange, 2022 was the year of recovery in which, despite inflation and the energy crisis, shares definitively put the difficulties caused by the Covid-19 pandemic behind them. The same goes for the dividends: according to the calculations of Janus Henderson Global Dividend Index, global distributions increased by 8,4% last year to new record equal to 1.560 billion euro against an underlying growth of 13,9%. And this year will be even better. Indeed, Janus expects a positive 2023 in terms of distributions, albeit slightly slower than 2022: the increase will be 2,3% on a combined basis and by 3,4% on an underlying basis, with dividend payouts reaching share 1.600 billion.
Even more optimistic Columbia Threadneedle Investments: “Expectations predict a 4% increase on average globally – a solid growth rate even if more subdued than that recorded in the past. For the energy and materials sectors, we expect dividends to come under pressure from swings in commodity prices given the dividend payout policies adopted by many companies,” estimates Jonathan Crown, portfolio manager at the firm. The financial sector and consumer discretionary offer decent growth, largely still tied to the recovery in dividend payments after the Covid lull. Finally, i defensive growth sectors should generate dividend growth of around 4-6%”.
Dividends 2023: coupons for 31 billion on the Ftse Mib
“Il Ftse Eb – which has a market capitalization of just over 590 billion, with an expected annual dividend yield of 5,28% – will pay to shareholders 31,14 billion euros”. This is the estimate of Edoardo Fusco Femiano, founder of Dld Capital Scf, which if confirmed will result in an increase of 8 billion euros compared to the 23 billion disbursed in 2022 by the blue chips of Piazza Affari.
And what about the Yield? A yield above 5% like the one announced by Dld Capital Scf (for the Economy Courier will instead be 4,6% on average) is far higher than that guaranteed today by government bonds, making the coupons that will be distributed over the next 3 months much more attractive, especially in one crisis scenario such as the current one which could lead to a recession and a consequent cut in profits and therefore next year's dividends.
“Be careful though – he warns Economy Courier – it must always be kept in mind that at the moment of the "detachment", the investor will find the money in his pocket but the shares will lose an equivalent value on the Stock Exchange. whereby, for secure the full coupon gain, it will be necessary to wait for the stock to recover at least the amount lost on the ex-dividend date on the Stock Exchange. Which, in conditions of low volatility, takes from a few weeks to months”.
Dividends 2023: the dates to remember
The dividend season on the Ftse Mib will officially begin on April 24th, the date on cuthe 8 big names on the list they will cut their coupon. However, the date to mark in red on the calendar is May 22, 2023, the day when a real loaded with dividends by 19 blue chips. The last remaining companies, including bigwigs such as Enel, Pirelli, Terna and Poste Italiane, will instead detach the coupon between June and July.
Here are all the dates to remember for Ftse Mib companies:
- 24th April: Banca Mediolanum, Banco Bpm, Campari, Cnh, Ferrari, Prysmian, Stellantis, Unicredit.
- 22st May: A2a, Amplifon, Azimut, Banca Generali, Bper, Diasorin, Eni, Erg, Fineco, Generali, Interpump, Intesa, Inwit, Italgas, Leonardo, Moncler, Recordati, Tenaris and Unipol.
- 19 June: Hera, Poste Italiane, Snam, Terna.
- 24 of July: Pirelli, Enel.
Dividends 2023: the highest amounts and yields of the Ftse Mib
The volatility seen on the markets means that this year the dividend season is particularly awaited and attractive. As he explains mf, “Since 1970 dividends have represented more than 70% of global equity returns. In Europe alone they have contributed over 46% of total returns since 1999.
“Dividends are a barometer of shareholder value. They can indicate companies' commitment to shareholder return and reflect management discipline: determining how much cash to set aside for shareholder distributions and future investments, and the optimal level of leverage to adopt are critical decisions to take,” said Yoichiro Kai, Portfolio Manager, Global Equity Dividend Strategy at T. Rowe Price.
As for the individual companies of the Ftse Mib, in 2023 to guarantee the highest dividend yield will be Stellantis (8,3%), followed by Mediobanca (8,1%), Unipol and Enel, which this year will both achieve a return of 7,7% between advance and balance. Above 7% (at 7,1 per accuracy) also Poste Italiane. Intesa Sanpaolo is also close to 7% (6,96%), followed by: Azimut (6,7%), Eni (6,55%), Banco Bpm (6,4%), Generali (6,3%), A2a and Banca Mediolanum with 6%.
Speaking instead of amounts relating to individual shares, at the top of the ranking is Ferrari (1,81 euros per share). Silver medal for Banca Generali (1,65 euro between down payment and dividend), bronze for Stellantis (1,34 euro). Azimut (1,3 euro), Generali (1,16 euro), Recordati (1,15), Moncler (1,12%), Diasorin (1,1) and Erg (1 euro) follow.
2023 dividend table Ftse Mib: amounts and dates
Below we propose a table, edited by the editorial staff of FIRSTonline, containing the amounts and dates of detachment and payment of the coupons of all the companies of the Ftse Mib.
| Ftse Mib Company | Dividend 2023 | Detachment date / Payment date |
|---|---|---|
| A2a | Total: €0,0904 (€0,0849 recurring + €0,0055 non-recurring) | 22/24 May 2023 |
| Amplifon | 0,29 € | 22/24 May 2023 |
| Azimut Holding | 1,3 € | 22/24 May 2023 |
| General Bank | Total: 1,65 euro (First tranche: 1 euro + Second tranche 0,65 euro) | First tranche: 22/24 May 2023 Second tranche: 19/21 February 2024 |
| Banca Mediolanum | Total: 0,5 euro (balance of 0,26 euro + down payment of 0,24 euro detached in November 2022) | 24 / 26 April 2023 |
| Mps Bank | It does not distribute | It does not distribute |
| Bpm bank | 0,23 € | 24 / 26 April 2023 |
| B for Bank | 0,12 € | 22/24 May 2023 |
| Campari | 0,06 € | 24 / 26 April 2023 |
| Cnh Industrial | 0,36 € | April 24/May 4, 2023 |
| Diasorin | 1,1 € | 22/24 May 2023 |
| Enel | Total: 0,4 euro (balance of 0,2 euro + down payment of 0,2 euro detached in January 2023) | 24 / 26 July 2023 |
| Eni | Total: 0,88 euro in four tranches of 0,22 euro (the first two detached in September and November 2022) | Third tranche: 20/22 March 2023 Fourth tranche: 22/24 May 2023 |
| Erg | 1 € | 22/24 May 2023 |
| Ferrari | 1,81 € | April 24/May 5, 2023 |
| FinecoBank | 0,49 € | 22/24 May 2023 |
| Generali | 1,16 € | 22/24 May 2023 |
| Ivy | 1,125 € | 19/21 June 2023 |
| Interpump | 0,3 € | 22/24 May 2023 |
| Intesa Sanpaolo | Total: €0,1606 (balance of €0,0868 + down payment of €0,0738 detached in November 2022) | 22/24 May 2023 |
| Inwit | 0,3467 € | 22/24 May 2023 |
| Italgas | 0,317 € | 22/24 May 2023 |
| Iveco | It does not distribute | It does not distribute |
| Leonardo | 0,14 € | 22/24 May 2023 |
| Mediobanca | ... | November 2023 |
| Moncler | 1,12 € | 22/24 May 2023 |
| nexi | It does not distribute | It does not distribute |
| Pirelli | 0,218 | 24 / 26 July 2023 |
| Poste Italiane | Total: €0,65 (balance of €0,44 + down payment of €0,21 detached in November 2022) | 19/21 June 2023 |
| Prysmian | 0,6 € | 24 / 26 April 2023 |
| Recordati | Total: €1,15 (balance of €0,6 + down payment of €0,55 detached in November 2022) | 22/24 May 2023 |
| Saipem | It does not distribute | It does not distribute |
| Snam | Total: €0,2751 (balance of €0,1651 + down payment of €0,11 detached in January 2023) | 19/21 June 2023 |
| stellantis | 1,34 € | April 24/May 4, 2023 |
| stm | Total: $0,24 (Four Tranches of $0,06) | 26/28 June 2023 18/20 September 2023 11/13 December 2023 18/20 March 2024 |
| Telecom Italy | It does not distribute | It does not distribute |
| Tenaris | Total: $0,51 ($0,34 balance + $0,17 detached payment as of November 2022) | 22/24 May 2023 |
| Terna | Total: €0,3144 (balance of €0,2083 + down payment of €0,1061 detached in November 2022) | 19/21 June 2023 |
| Unicredit | 0,9872 € | 24 / 26 April 2023 |
| Unipol | 0,37 € | 22/24 May 2023 |
Does the distribution of dividends with an increase in financial debt respond to the objectives of optimizing leverage or weaknesses of the boards towards whoever appointed them?