Snam's shareholders' meeting approved the 2014 financial statements, which closed with a profit of 470,47 million euro, and confirmed Yunpeng He as a non-executive and non-independent director, who will remain in office until the expiry of the current board of directors i.e. until the shareholders' meeting called to approve the financial statements as at 31 December 2015.
The meeting also decided to allocate the profits to the shareholders, by way of a dividend of 0,25 euro per share, using the entire profits relating to previous years and for the residual part the share premium reserve until reaching the total amount of the dividend. Payment will take place from 20 May, with coupon detachment set for 18 (record date 19).
Some shareholders then asked how the company will deal with the protests in the area for the construction of the works, but CEO Carlo Malacarne did not appear worried. «We start our projects at least 4-5 years earlier in involving local institutions knowing that authorization requires a long period, but this is not having any consequences on our investments. We are also promoting a new path of knowledge and dissemination on energy and gas issues, involving schools through a project called "Stories that tell the future" and other stakeholder engagement actions to make the local area aware of what Snam does and how he does it".
