DIVIDENDS

DIVIDEND POLICY

On February 19, 2020, the Board of Directors resolved to adopt a dividend policy that assumes an average 40% dividend pay-out on consolidated net income in the 2020-22 Industrial Plan.

2019 DIVIDENDS*


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.

 

    1. 2018 dividends*




      1. 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.

    1. DIVIDEND HISTORY

      1. 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. 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. 2. Before the required withholding taxes.
        3. 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. 4. Based on group net income adjusted (net of non recurring items: equity participations, Bolivar devaluation impact and Steel Cord capital gain).
        5. 5. Based on group net income adjusted (net of impact from equity participations).
        6. 6. Based on group net income post minorities.
        7. 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.

Last revised: 2 Mar 2020