Terna's current dividend policy is “conservative” also with a view to containing debt. The CEO of the company underlined it today, Matthew Del Fante, answering questions from shareholders during the meeting.
“We retain more earnings than the average shareholder,” Del Fante explained. At the end of 2015, net debt amounted to 8 billion euros. “The debt/Rab ratio is 58%, a percentage in line with the current rating”, recalled the manager, adding that “the industrial plan envisages a reduction of the debt in 2019”.
Del Fante then noted that Terna's stock recorded an appreciation of 2015% in 26,5, outperforming Piazza Affari (FtseMib +12,7%) and going against the trend with respect to the reference European sector index (DJ Stoxx Utilities - 3%). Considering the dividends paid during the year, the stock guaranteed a total return to the shareholder (Tsr) of 32,5% (1,7% DJ Stoxx Utilities).
“Taking into account the results achieved, in line with the dividend policy, we propose a dividend for the 2015 financial year equal to 20 euro cents per share, of which 7 cents were already paid last November as an advance, while the remaining 13 cents will be paid in June”, concluded the CEO.
In addition to the dividend, the shareholders' meeting then approved Terna's 2015 financial statements, which closed with a consolidated net profit up 9,4% to 595,5 million.
