All as expected. Intesa Sanpaolo's ordinary shareholders' meeting gave the green light to the dividend of 1,9 billion euro which will be distributed to shareholders on 20 October. The bank led by Carlo Messina thus confirms itself as one of the most generous in its sector, but also one of the listed companies most inclined to make its shareholders happy. “The ability to significantly remunerate shareholders, made possible by our high profitability, is combined with the remarkable strength of capital levels, well in excess of regulatory requirements,” he commented. Charles Messina, managing director and CEO of Intesa Sanpaolo.
INTESA SANPAOLO DIVIDEND
After the official end of the constraints imposed by the ECB, in the next two months many of the listed banks will distribute new coupons, disbursing part of the liquidity remaining in cash for 2020. Among them will be Intesa Sanpaolo. L'assembly, in which 57,57% of the share capital participated, gave the go-ahead to the resolution which envisages the distribution in cash of part of the extraordinary reserve based on the 2020 results. Yes, 99,92% of the shares represented. Distribution will take place the 20 October 2021, with coupon detachment on October 18th and record date on October 19th. Investors holding Intesa Sanpaolo shares (+1,08% on the Stock Exchange) will therefore receive 9,96 cents a share, for a total amount of 1,9 billion euros and a yield of 4%. The October extraordinary coupon adds to the 694 million cash dividends, 3,57 cents per share, already distributed in May. Which means that for 2020 the dividend yield guaranteed by Intesa is 5,4%, while the overall payout ratio is equal to 75% of the 3,505 billion euro of adjusted consolidated net income, in line with the provisions of the 2018-2021 Business Plan.
THE NOVEMBER COUPON
But that's not all, because as the CEO Messina recalled, a pre-Christmas gift will arrive for Intesa shareholders next month: this time it is a interim dividend of 1,4 billion euros which will be distributed on November 24th.
“Of the 4 billion in total dividends distributed in 2021, approximately 1,5 billion are directly in favor of banking foundations – in support of their inclusive action towards the territory, social and cultural initiatives and people in difficulty – and in favor of families and individuals. To this amount is added the indirect benefit for the real economy deriving from the fact that most of our institutional investors, who benefit from dividends, manage the savings of families and individuals, explained Messina, according to whom "Intesa Sanpaolo represents the engine of sustainable and inclusive growth, a role that we will confirm next February with the presentation of the 2022-2025 business plan".
Lastly, the manager highlighted that the group will be able to disburse over 2026 billion euros over the period of the PNRR, i.e. between now and 410, "in order to accelerate the ecological transition, digitalisation, infrastructure projects, the strengthening of the health system, research, social cohesion".
