Our dividend policy

Aware of its SIIQ status, IGD is committed to providing its shareholders with attractive and sustainable returns also by considering our FFO (Funds from Operations) as it is one of the main indicators used to measure the performance of companies (it indicates the income generated by the Group’s core business and recurring operations).

 

Dividend 2019

In light of the Covid-19 health crisis and the uncertainty as to its duration, as well as the inevitable slowdown in internal demand, consumption and, more in general, the country’s economic cycle, in order to preserve the Company’s financial stability, the Board of the Directors held on 7 May 2020 deemed it opportune to formulate a new proposal for the allocation of the 2019 earnings and changed the proposed resolution approved during the Board of Directors’ meeting held on 27 February 2020.

IGD’s Board of Directors will propose that the shareholders, meeting in ordinary session, approve the payment of a dividend of €0.228152 per share which equates to 70% of the net profit generated by the property rental business, namely the minimum required to maintain REIT or SIIQ status.

Shares went ex-div on 20 July 2020 and the dividend was payable as from 22 July 2020. The shareholders of IGD at the record date (21 July 2020) were entitled to receive the dividend.

Dividend per share evolution (in €)

 

Dividends for the year 2014, 2015 and 2016 have been recalculated in order to take into account the reverse stock split occurred in February 2018.

Dividend Yield

The dividend yield, or price/dividend ratio, is the annual dividend payments made (or announced) divided by the shares’ closing price at the end of the year. The ratio is used to calculate the yield, but does not take into account the stock’s market performance.

IGD has provided its shareholders with the following dividend yield since 2014.

DIVIDEND YIELD evolution (%)

 

*Dividend yield calculated on the price of IGD’s stock on the day before the meeting of the Board of Directors which approved to formulate the new proposal for the allocation of the 2019 profit to the Shareholders’ Meeting

Dividends in the history of IGD

Rewarding its shareholders has been a priority for IGD since its IPO in 2005.

Dividend highlights are provided below.

20192018201720162015201420132012
SHARES
Shares outstanding at 31/12110,341,903110,341,90381,304,563*813,045,631813,045,631756,356,289348,001,715330,025,283
Treasury shares at 31/1232,11875,126000010,976,59210,976,592
Official closing price at 31/12 (€)6.25.3828.9620.7240.8870.6450.8650.820
Par value (€)nonenonenonenonenonenonenonenone
Market capitalization at 31/12 (€)684,119,808593,860,100728,488,884588,645,037720,764,952487,849,806301,021,483270,620,732
DIVIDENDS
Dividend per share (€)0.2281520.500.50**0.0450.0400.03750.0650.070
Dividend yield (%)6.44***9.295.586.24.65.87.58.5
Ex-div date coupon20/07/202013/05/201911/06/201822/05/201723/05/201618/05/201519/05/201420/05/2013
Payment date22/07/202015/05/201913/06/201824/05/201725/05/201620/05/201522/05/201423/05/2013

*The number of shares take into account the reverse stock split occurred in February 2018.

** All the shares deriving from the share capital increase completed on 23 April 2018 are also entitled to dividend. Therefore the total number of shares entitled to dividend for year 2017 is 110,341,903.

*** Dividend yield calculated on the price of IGD’s stock on the day before the meeting of the Board of Directors which approved to formulate the new proposal for the allocation of the 2019 profit to the Shareholders’ Meeting

 

2010-2019 historical dividends (13 KB – xlsx)