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Share info

Dividend

Dividend policy aimed at self-funding business growth and paying, twice a year, the excess capital generated above 12% CET1 ratio1:

  • Target CET1 ratio level of 12%, well above the SREP requirements
  • Earnings of the period retained to maintain the 12% CET1 ratio target and pay-out the portion of the net income of the year in excess of the 12% CET1 ratio threshold
  • No obligation to pay a minimum DPS or pay-out ratio every year

1 In addition to TCR >15%, as long as requested by ECB.

  FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 1H 2023
Ex-dividend date 9-Apr-2018 1-Apr-2019 29-Mar and 11-Oct 2021 11-Oct-2021 19-Apr-2022 24-Apr-2023 11-Sep-2023
Total n° of shares as of 31/12 170,107,400 170,107,400 170,553,778 170,650,642 185,312,690 185,545,952 185,545,952
Total n° of shares as of the ex-dividend date 170,107,400 170,107,400 184,694,346 185,307,538 185,315,280 185,623,140 186,738,419
Net Profit (€m) - Reported 95.55 92.15 93.16 91.07 197.37 232.05 76.15(5)
Net Profit (€m) - Adjusted 83.73 91.75 98.79 97.63 125.28 146.03 81.94(5)
EPS - Reported(1) € 0.562 € 0.542 € 0.546 € 0.534 € 1.065 € 1.251 € 0.410
EPS - Adjusted(1) € 0.492 € 0.539 € 0.579 € 0.572 € 0.676 € 0.787 € 0.442
Cash dividends accrued in the year (€m) 83.69 91.75 70.87 97.63 125.28 146.03 -
Cash dividends paid (€m) 83.69 91.75 3.23 165.28 125.28 146.03 81.94
DPS € 0.492 € 0.539 € 0.415 € 0.572(2) € 0.6795 € 0.7898(4) € 0.438(6)
DPS paid € 0.492 € 0.539 € 0.017495 € 0.8946 € 0.6795 € 0.7898(4) € 0.438(6)
Pay-out ratio on Adjusted Net Profit 100.0% 100.0% 71.7% 100.0% 100.0% 100.0% 100.0%
Dividend yield (DPS/Average closing price in the year) 9.1%(3) 10.2% 8.2% 11.7%(2) 9.5% 11.5% 9.6%(7)
Dividend yield (DPS/Closing price before the ex-dividend date) 8.4% 9.9% 6.4% 7.0%(2) 9.8% 8.7% 9.0%(7)

(1) Computed on the basis of the total n° of shares as of 31/12.

(2) Theoretical DPS amount, calculated on the basis of the cash dividends accrued in 2020 (€97.63m) and the total n° of shares as of 31/12/2020 (#170,650,642).

(3) The average closing price of 2017 includes also the IPO price (€ 4.7).

(4) 0.3708 euro as interim dividend distributed in August 2022 and 0.419 euro as remaining amount distributed in April 2023. Total number of shares as of the ex-dividend date of the interim dividend equal to 185,521,548.

(5) Half year results as of 30-Jun-23.

(6) Interim dividend on the basis of the half year results as of 30-Jun-23. 

(7) Annualized dividend yield. 

Date of last update: 14/09/2023.