Ferrari gives the green light to the dividend for the 2019 financial year, and the stock immediately takes to the stock market. There was much anticipation for the Cavallino shareholders' meeting, which was to take stock of the results and the new objectives in the light of the coronavirus emergency: after the CEO Louis Camilleri confirmed the detachment of the coupon of 1,13 euro per share, equal to a total amount of 210 million euro, the Ferrari share in Piazza Affari gained up to 4%, over 143 euros per share. “The distribution of the dividend reflects our confidence in the future and is also a reward for our shareholders in these difficult times,” Camilleri said, adding that “no one knows when this emergency situation will end, but the important it's being ready and Ferrari is ready”.
“Record results in 2019 have positioned us to face the future”, continued the manager, also reassuring the audience of shareholders about the business in 2020, which shouldn't be too much affected by the crisis triggered by the virus: "The 5 new cars presented by Ferrari in 2019 all had an enthusiastic response from the market and support our order book for 2020 which remains stronger than ever in both absolute and relative terms”. The assembly also voted for the renewal of the board of directors, with Camilleri CEO and John Elkann president. The board members also confirmed that they had waived all or part of their salary for the remainder of this year in order to provide much-needed aid to Modena, Maranello and surrounding areas.
"The aid will be used, among other things, for the supply of basic necessities - said Elkann -, of computers and digital whiteboards to primary and secondary schools to help ensure continuity of education both during and after the crisis , and the creation of important funds for many local hospitals in our area”. Furthermore, the president recalled that “Ferrari also helped supply fans and masks, absolutely necessary at the onset of the crisis. More recently, it has played a key role in the production of special valves in the Maranello plant to be used for the conversion of diving masks for respiratory purposes, which are being delivered to hospitals across the country this week.
As for the reopening of the business, Elkann commented that "our thoughts and actions are first and foremost aimed at need to ensure the safest possible working environment for our staff”. Speaking of 'Back on Track', Elkann stressed that “it is a detailed process that we have developed to test numerous systems and protocols to enable the safe and gradual reopening of the Ferrari work environment. With the patronage of the Emilia Romagna Region, and in collaboration with our trade union partners, we are carrying out an advanced project with cutting-edge practices, the result of collaboration with a pool of scientists and experts"-
