DIVIDENDS
DIVIDEND POLICY
The Board of Directors – in line with the previous year’s dividend policy, amounting to approximately 50% of consolidated net profit – will propose to the Annual General Meeting the distribution of a dividend of €0.24 per share, totalling approximately €260 million. In light of the positive results and the reduction in financial leverage, the Board of Directors will also propose the payment of an extraordinary dividend, also relating to 2025, of €0.10 per share, amounting to approximately €109 million.
Therefore, the total proposed dividend amounts to €0.34 per share, representing a total dividend payout of approximately €369 million.
| 2025 DIVIDENDS | |
|---|---|
| Dividend Proposal to be filed with Pirelli & C. Annual General Meeting (June 25th, 2026) | |
| Ordinary dividend | 2025 |
| Net Income Reported (€ million) | 531 |
| payout (% of net income reported) | 49.0% |
| DPS (€) | 0.240 |
| # of shares | 1,084,881,933 |
| dividends (€ million) | 260.4 |
| Extraordinary dividend | 2025 |
| DPS (€) | 0.100 |
| # of shares | 1,084,881,933 |
| dividends (€ million) | 108.5 |
| Total dividend | 2025 | |
| DPS (€) |
0.340 |  |
| # of shares | 1,084,881,933 | |
| dividends (€ million) | 368.9 |
| Dividend Payment Schedule | |
| — | Coupon Detachment: July 20th, 2026 |
| — | Dividend Payment: July 22nd, 2026, record date July 21st, 2026 |
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2024 dividends
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Dividend Proposal to be filed with Pirelli & C. Annual General Meeting (June 12th, 2025)
Group Net Income Reported (€ million) 501 Dividend Payment Schedule payout (% of group net income reported) 50.0% — Coupon Detachment: June 23th, 2025 DPS (€) 0.250 — Dividend Payment: June 25th, 2025, record date June 24th # of shares (million) 1,000.0 dividends (€ million) 250
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2023 dividends
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Dividend Proposal to be filed with Pirelli & C. Annual General Meeting (May 28th, 2024)
Group Net Income Reported (€ million) 496 Dividend Payment Schedule payout (% of group net income reported) 40.0% — Coupon Detachment: June 24th, 2024 DPS (€) 0.198 — Dividend Payment: June 26th, 2024, record date June 25th # of shares (million) 1,000.0 dividends (€ million) 198
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2022 dividends
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Dividend Proposal to be filed with Pirelli & C. Annual General Meeting (June 29th), 2023)
Group Net Income Reported (€ million) 436 +35% Dividend Payment Schedule payout (% of group net income reported) 50.0% — Coupon Detachment: July 24th, 2023 DPS (€) 0.218 +35% — Dividend Payment: July 26th, 2023, record date July 25th # of shares (million) 1,000.0 dividends (€ million) 218 +35%
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2021 dividends
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Dividend Proposal to be filed with Pirelli & C. Annual General Meeting (May 18th, 2022)
Net Income Reported (€ million) 322 Dividend Payment Schedule payout (% of net income reported) 50.0% — Coupon Detachment: May 23rd, 2022 DPS (€) 0.161 — Dividend Payment: May 25th, 2022, record date May 24th # of shares (million) 1,000.0 dividends (€ million) 161
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2020 dividends
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The Shareholders’ Meeting (link to press release.) decided for the distribution of a dividend, also drawn in part from profits set aside in previous years, of €0.08 per ordinary share for a total pay-out of €80 million gross of withholdings required by law. Net Income reported (€ million) 44.0 Allocation Legal reserve (€ million) 0.0 DPS (€) # of ord. shares (million) Dividend (€ million) 80.0 0.08 1,000.0 of which Net result (€ million) 44.0 Retained earnings (€ million) 36.0 Dividend payment schedule: — Coupon Detachment: June 21st, 2021 — Dividend Payment: June 23rd, 2021, record date June 22nd
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2019 dividends* (CANCELLED)
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2019 dividend distribution was cancelled, as part of the COVID-19 containment measures announced on April 3rd, 2020 (link to press release).
Just as a reference, please find below the original 2019 dividend approved by the Board of Directors on February 19th, 2020.Net Income Reported (€ million) 458 Dividend Payment Schedule payout (% of net income reported) 40.0% — Coupon Detachment: June 22nd, 2020 DPS (€) 0.183 — Dividend Payment: June 24th, 2020, record date June 23rd # of shares (million) 1,000.0 dividends (€ million) 183 * in line with the Company dividend policy which was adopted at the IPO, starting from the approval of the financial report at December 31 2018, with an average pay-out of 40% of consolidated Net Income for the period 2018-20.
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DIVIDEND HISTORY
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Listed below are the dividends paid by Pirelli & C. S.p.A. before delisting in 2015. No dividends have been paid based on results for fiscal years 2015, 2016 and 2017.
Fiscal year 1 Dividend paid on Ordinary Shares (€/share)2 Dividend paid on Saving Shares (€/share)2,3 Payout Ratio 2011 0.270 0.340 41%4 2012 0.320 0.390 40%5 2013 0.320 0.390 43%6 2014 0.367 0.431 40.5%7 - 1. Fiscal year based on whose results dividends were calculated. Payment occurred in the following year after the approval of the Annual General Meeting.
- 2. Before the required withholding taxes.
- 3. Saving shares were converted to Special shares in February 2016. Special shares were later converted to Ordinary shares in June 2017. For more information please refer to the Share Capital section.
- 4. Based on group net income adjusted (net of non recurring items: equity participations, Bolivar devaluation impact and Steel Cord capital gain).
- 5. Based on group net income adjusted (net of impact from equity participations).
- 6. Based on group net income post minorities.
- 7. Based on group net income adjusted (net of non recurring items: equity participations, Bolivar devaluation impact and Steel Cord capital gain).
For further information regarding Pirelli’s share capital evolution please refer to the relative section.
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2018 dividends*
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Net Income Reported (€ million) 442 Dividend Payment Schedule payout (% of net income reported) 40.0% — Coupon Detachment: May 20th, 2019 DPS (€) 0.177 — Dividend Payment: May 22nd, 2019, record date May 21st # of shares (million) 1,000.0 dividends (€ million) 177.0 * in line with the Company dividend policy which was adopted at the IPO, starting from the approval of the financial report at December 31 2018, with an average pay-out of 40% of consolidated Net Income for the period 2018-20.
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