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Ferrari distributes 440 million in dividends

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Ferrari distributes 440 million in dividends

Growing remunerations for Ferrari top management. In 2023, as indicated in the financial statement report, the CEO of the Maranello car manufacturer, Benedetto Vigna, received a total remuneration of 6.692 million, an increase from 4.99 million in 2022. The main items of the compensation are the annual salary of 1.5 million, the variable part of the remuneration, 2.9 million, and the long-term incentive plan of 1.99 million. President John Elkann received a total remuneration of 2.39 million euros from Ferrari.

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As regards the shareholder structure, as of 9 February 2024, it appears that Exor, which also controls Republic, has 24.65% of the capital (36.48% of the voting rights), the Pietro Ferrari trust has 10.48% (15.51% of the voting rights) and Blackrock has 6.07% of the capital . According to the annual report, these are the only three shareholders with a share of more than 3% of the capital as of February 9th.

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Ferrari’s dividend is also growing. The board of directors of the Prancing Horse will propose to shareholders a dividend distribution of 2.443 euros per ordinary share, an increase of approximately 35% compared to the previous year. The overall distribution will be approximately 440 million. The distribution will be subject to approval by the shareholders’ meeting scheduled for April 17, 2024.

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The ex-dividend date is scheduled for April 22nd, the date of entitlement to receive the dividend is April 23rd for ordinary shares traded on both the Italian stock exchange and the NYSE in the United States and the dividend payment date is April 3rd. May.

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