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Dividends

07/31/2020 - 03:00 PM

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 2020 (elaborated on the basis of the 2019 financial results)

The Shareholders’ Meeting held on April 23, 2020, resolved, for the 2019 financial year:

  • to allocate 5% of the profit for the financial year to the legal reserve;
  • to allocate to distribution the remaining 2019 profit for payment to shareholders of an overall dividend calculated based on the following amounts, that will be applied to the number of ordinary and savings shares held by the same at the record date (excluding therefore 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 pay the dividend payable starting from 24 June 2020, with coupon date 22 June 2020 (record date 23 June 2020);
  • to carry forward the residual profits.

Download the press release published at the end of the Shareholders’ Meeting

 

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 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 cent.

 Dividends ordinary sharesDividends savings shares
Financial year

Euro per

share

(Millions of

Euro)

(*)

Euro per

share

(Millions of

Euro)

(*)

20190.010152.030.0275165.71
2018--0.0275165.71
2017--0.0275165.71
2016--0.0275165.71
2015--0.0275165.71

(*) The amount is calculated with reference to the total number of ordinary shares which make up the share capital and includes the Company’s treasury shares.

 

Other information

The amount and conditions for the payment of dividends are proposed by the Board of Directors to the General Meeting, which is usually convened within 180 days from the end of the Financial Year (December 31).

The share capital of Telecom Italia is divided into two different category of shares:

  • ordinary shares, holders have the right to attend, intervene and vote during ordinary and extraordinary Shareholders’ Meetings. The holders of this category of shares also have the right to obtain a part of the net income allocated by the company, subsequent to its distribution to savings shareholders.
  • savings shares, holders do not have the right to vote in either ordinary nor in extraordinary Shareholders’ Meetings but benefit from the distribution of the net income for the year of up to five per cent of 0,55 euros per share. Savings shares are entitled to an overall higher dividend compared to ordinary shares for an amount which is equal to two per cent of 0.55 euros per share.

 

Information on dividends

For further information the following contacts are available:

toll free number 800020220 (only for calls from Italy)

telephone +39 011 4356503 (for calls from abroad)

email Investitori individuali

email Corporate affairs