Towards double-digit remuneration for Banca Generali shareholders between October 2021 and May 2022. On the occasion of the publication of the accounts relating to the first half of 2021, Banca Generali – in line with the recommendations of the Bank of Italy and the European Central Bank – confirms that it will proceed with the distribution of dividends after 1 October and after verifying the existence of the predefined conditions. Therefore, considering also the 2021 profit withheld for the purpose of complying with the approved dividend policy, Banca Generali currently has over € 500 million of potentially distributable dividends.
In detail, Banca Generali emphasizes that the floor of € 1.25 on the 2021 results has already been allocated, in addition to the € 3.3 approved for the 2019/2020 financial years. This leads to a total dividend of € 4.55 per share arriving between October 2021 and April 2022, equal to a dividend yield of approximately 13%.
The 2019-21 dividend policy approved by Banca Generali provides for a pay-out ratio of 70-80% of the profits generated in the period with a floor of € 1.25. The distribution of the dividend is subject to the TCR level defined in the Risk-Adjusted Framework objectives and must not exceed the 100% pay-out.
Banca Generali closed the first half of 2021 with a net profit of 190.1 million euros, up 44% compared to the previous year. Total revenues rose to 432.7 million (+ 43%), while ‘core’ operating costs amounted to 101.4 million (+ 4.6%). In fact, at the end of the half-year, the bank reached and exceeded the net inflows target envisaged in the 2019-2021 three-year business plan, realizing net flows of € 14.8 billion (the goal was to exceed 14.5 billion) and exceeded the higher target of masses reaching 80.4 billion (against the range of € 76-80 billion).