DIVIDENDS

DIVIDEND POLICY

On August 31, 2017, the Board of Directors resolved to adopt a dividend policy that, beginning with the approval of the financial statements as at and for the year ended December 31, 2018, provides for a distribution of on average 40% of consolidated net income for the years 2018-2020.

2018 DIVIDEND

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  
    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: 17 May 2019