The dividend-day for Piazza Affari is approaching. In a week, many of the big names on the Milanese price list will detach the coupon. After the full-bodied appetizer of last April 16, the most important appointment with the detachment of 2021 dividends will arrive on May 24, when 18 companies of the Ftse Mib will present themselves at the appointment with the remuneration of the shareholders. Among these, very generous dividends stand out even if the ECB restrictions on bank stocks continue to weigh.
It should be remembered that this is the detachment of the 2021 dividend, ie relating to the 2020 financial year. To collect the dividend, the share must be held at the close of the last working day before the detachment of the coupon. This year the banks return to detach the coupon, stopped in 2020 by the stop ECB. The ECB restrictions remain in part, with the recommendation to banks to limit the dividend to a maximum of 15% of cumulative profits between 2019 and 2020, without exceeding the ceiling of 20 basis points of Cet1 capital.
Deadlines of May 24, insurance and utilities the most generous
Below is a list of the deadlines on 24/5 in alphabetical order with relative yields calculated on the basis of the closing price on 14 May.
The generous coupons of Generali Assicurazioni (€ 1.01 with a yield of 5.73%) and Unipol (€ 0.28 with a yield of 5.71%). Italgas is also above the 5% threshold (0.277 euros, 5.02% yield). Then follow Azimut (4.77%) and A2A (4.68%).
In the list there are also two coupon balances by ENI (0.24 euros) and Recordati (0.55 euros).
From Intesa an appetizer in view of a double ration at the end of the year
Then there is Intesa’s coupon of 0.0357 euros, which is equal to the maximum allowed by the ECB. Intesa Sanpaolo has already prepared a dividend plan which provides for the cash distribution from reserves, possibly by the end of 2021, which by adding to the aforementioned dividends leads to the payment of a total amount corresponding to a payout ratio equal to 75% of the 3,505 million euros of adjusted net profit, as well as a interim dividend (amount not specified) on earnings 2021 (payout target of 70%) with 1,061 million euros already accrued in the first quarter of 2021.