The dividend is the portion of the profit paid by the company to its shareholders.
Payment of annual dividends is subject to approval by the holders of Ordinary Shares at the annual
general shareholders’ meeting, which must be held within 180 days after the end of the financial year to
which it relates (pursuant to article 18, second paragraph, of the Company’s Bylaws).
Dividend Policy for 2021 (elaborated on the basis of the 2020 financial results)
The Shareholders’ Meeting held on March 31, 2021, resolved, for the 2020 financial year:
- to allocate to the legal reserve the amount of 22,422,995.42 euros as needed to bring the total amount of the reserve up to 2,335,400,571.02 euros (equivalent to one fifth of the share capital);
- to allocate part of the profit for 2020 to pay the Shareholders a total dividend calculated based on the following amounts, which will be applied to the number of ordinary and savings shares that they own on the record date (excluding the treasury shares held by the Company:
- 0.0100 euros (gross of witholding tax) for each ordinary share,
- 0.0275 euros (gross of witholding tax) for each savings share;
- to make the dividend payable starting on 23 June 2021, with a coupon date of 21 June 2021 (record date 22 June 2021);
- to carry forward the residual profits.
Dividends paid to ordinary shares and savings shares
The following table sets forth the dividends paid to both classes of shares with respect to each of the last
five financial years (the dividend history is available here [https://www.gruppotim.it/en/investors/shares/dividends/dividend-history.html] or at the bottom of the page)
and the aggregate amounts paid in each year. The dividends paid are rounded down to the nearest whole