Dividends 2021 Ftse Mib: here are the amounts and dates. Let's start with Stellantis

Stellantis will officially inaugurate the 2021 dividend season. After a troubled 2020 that saw the main listed companies – banks and insurance companies in primis – reduce or even block the distribution of coupons to deal with the economic difficulties deriving from the pandemic, in 2021 analysts expect an increase in coupons and returns, even if the peaks reached in the pre-Covid era will still be far away. 

As for Italy, last year, listed companies paid coupons for a total value of 13,8 billion, more than 7 billion less than the 20,5 billion distributed in 2019. For 2021, Intermonte instead expects a rise, with a total amount that will approach 15,9 billion euros. 

DIVIDEND SEASON 2021: THE DATES

After the dividends of Stellantis and two other smaller companies, expected in March and which we will discuss shortly, the coupon charge will arrive between April and May. Two dates to be marked in red on the calendar: Monday 19 April and Monday 24 May. In fact, it will be in these two days that almost all the dividends of the companies listed on the Ftse Mib will be distributed. Enel will instead close the season, at least according to the indications provided to date, which will pay off the balance of the 19 dividend on Monday 2021 July (payment on 21 July). The deposit has already been paid on January 18th. 

DIVIDENDS 2021: STARTING WITH STELLANTIS

On Monday, March 8, the extraordinary shareholders' meeting of Stellantis gave the green light for the distribution of up to 54,29 million ordinary shares of Faurecia and 308 million euros which are the proceeds received by Peugeot for the sale of Faurecia shares in October 2020. On March 15, holders of Stellantis ordinary shares will receive 0,017029 ordinary shares of Faurecia and 0,096677 euros for each Stellantis ordinary share held. The company's board previously approved the distribution of an ordinary dividend from 1 billion euro, a coupon which was envisaged by the Amendment to the Combination Agreement of September 2020 and which will be submitted for approval by the shareholders' meeting on April 15th. If, as probable, the shareholders' meeting approves the proposal, on April 19 Stellantis will detach a coupon equal to 32 cents a share, with payment scheduled for April 28. 

Outside the Ftse Mib, the following will pay the dividend in March:

• Pharmactoring bank: €0,018935 on 29 March;
• BB Biotech: 3,6 Swiss francs on March 22, 2021.

DOUBTS ABOUT BANKS AND INSURANCE

Again this year, investors' eyes are turned towards the banks that in 2020 did not distribute dividends at the request of the European Central Bank. This year, based on the agreements reached in Europe the strongest banks and with a better quality of the assets they will be able to return to disburse part of the profits, but following certain rules. In fact, the ECB has asked credit institutions for "extreme prudence", suggesting that the coupon be limited to 15% of 2019-2020 cumulative earnings and not to exceed 20 basis points of Cet1 capital. In September 2021, once the limits imposed by European supervision have fallen, the rest could arrive. Taking a practical example: Intesa Sanpaolo decided to distribute 3,57 euro cents per share, the maximum allowed by ECB rules, for a total amount of 693,67 million euros. The institute led by Carlo Messina, after the approval from the Eurotower, also provides for a cash distribution from reserves of 10 cents per share from 2020 earnings. Finally, this time on 2021 earnings, a further coupon should be added with a pay-out equal to 70% of the net profit. A part of this coupon will be distributed already this year in the form of a down payment.

Attention also to insurance which, after the limits established by IVASS in Italy and by EIOPA in Europe, should return to distributing The Authorities, for this year, have not imposed any stoppages, but have nonetheless advised "caution and prudence".

DIVIDENDS 2021: THE COUPONS ALREADY NOTED

Below we propose a table created by FIRSTonline containing the names of the Ftse Mib companies that have already disclosed the amount of the dividend and the ex-dividend and payment dates of the coupons. Companies not present will communicate information on dividends over the next few weeks.