Generali Italia archives its 2017 financial statements with a net profit of 595,3 million euros, against 587 million the previous year. The company detaches a maxi dividend of one billion in favor of the parent company, withdrawing 500 million from the "emission premium" reserve.
According to the Radiocor agency, the operation received the green light from IVASS and was formalized in recent weeks, following - albeit with different amounts - what happened in recent years. In fact, Generali Italia's dividend is one of the main net cash flows on which the holding company draws to in turn directly remunerate the shareholders.
Last April, during the budget meeting, the CEO of the Generali group Philippe Donnet confirmed the target of dividends of over 5 billion over the span of the 2015-2018 industrial plan. Just yesterday fell the date established for the detachment of the coupon of the Lion, equal to 0,85 euro per share.
Compared to the 2015-2016 financial statements, what emerges more clearly is the increase in the use of reserves by Generali Italia. In 2015 the company had in fact detached a coupon of 900 million, of which 776 million of net profit (realized in 2014) and 124 million drawn from reserves. In 2016, the dividend remained stable and used reserves did not go beyond 135 million (previous year profits were 765 million).
The change of course came in 2017, when the coupon rose to one billion with the use of reserves of 412 million, because 2016 profits had dropped to 587 million. Finally, as mentioned, this year the coupon was confirmed at one billion, half of which came from reserves. In detail, Generali Italia's 2017 profit amounted to 595,3 million, but 500 million was allocated to the holding company as a coupon and 95,3 million to the extraordinary reserve.
