Home Business Dividend Intesa Sanpaolo is tempting to many, the title rejoices and sees the top since 2018 with + 35% YTD

Dividend Intesa Sanpaolo is tempting to many, the title rejoices and sees the top since 2018 with + 35% YTD

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Intesa Sanpaolo on the shields awaiting the full-bodied dividend that will be detached on Monday 18 October. The stock soared today in the leading positions of the Ftse Mib (close to + 2.05% at € 2.575) on the new closing highs since June 2018. Since the beginning of the year the stock has recorded almost + 35%.

Intesa Sanpaolo will take one off on Monday substantial coupon of € 0.0996 per share and therefore today is the last day to take possession of Intesa shares and be entitled to collect the dividend.

The distribution will take place on October 20, 2021. By comparing the aforementioned unit amount to the share price recorded on Wednesday October 13, the result is a dividend yield of 4%; if the unit amount of 3.57 euro cents paid in May is also compared, the total dividend yield for the 2020 financial year is equal to 5.4%.

The interim dividend of 22 November is also on the horizon

Yesterday, the Intesa Sanpaolo shareholders’ meeting gave the green light for the distribution in the form of dividends of part of the Extraordinary Reserve on the 2020 results for a value of over 1.9 billion euros from reserves, corresponding to a unit amount of 0 € 0996 per share.

This distribution, in addition to the 694 million cash dividends, approved in April and paid in May 2021, leads to the payment of a total amount for 2020 corresponding to a payout ratio pari al 75% of the 3,505 million euros of adjusted consolidated net profit, in line with the 2018-2021 Business Plan.

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In addition, the largest Italian bank is planning a further distribution of 1.4 billion to be paid, in the form of an interim dividend, on November 24, 2021 (with coupon detachment on 11/22). The CEO of Intesa Sanpaolo, Carlo Messina, following the shareholders’ meeting, he remarked “the ability to significantly remunerate shareholders, made possible by our high profitability, is combined with the remarkable solidity of capital levels, which are well above the regulatory requirements”.

Should you enter before the deadlift?

Today the title race is explained by the desire of many investors not to miss the dividend coming next week. But is it worth entering a security close to the detachment to get the generous coupon? One risk is to remain trapped in the bearish phases of Piazza Affari. One of 24 rules of Gann it’s just “Never buy to collect a dividend”. There is also the factor to consider taxation . Dividends are calculated by the market which already discounts the post-detachment reversal. Entering only for the dividend tends not to benefit the investor, especially if it is a private individual, who pays the 26% coupon tax cashed as the dividend is a capital income and not a different income. The curtailment of the share price of the stock is instead on the total. In theory, therefore, it may be better to enter ex-ex-coupon.

Much depends on it anyway how the action behaves after the deadlift and see if the market will reduce the entire quota, something less or something more.

Another strategic choice could even be to sell the share before the ex-dividend date. A choice to consider if the security is at a higher carrying price than the current price. Selling the stock would have the effect of avoiding taxation on the dividend and accumulating a smaller capital loss. On the other hand, if you are making a profit, the choice of keeping the stock or selling it is irrelevant for tax purposes.

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