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).
In 2020 in light of the loss recorded by the parent company IGD SIIQ SpA (which waives the distribution requirement) and with a view to safeguarding financial stability and the investment grade profile, the dividend for the year ended on 31 December 2020 wasn’t distributed.
This difficult decision is to be viewed as one-off and unforeseen, triggered by the exceptional circumstances that developed as a result of the pandemic; in fact, consistent with what was announced when the 2022-2024 Business Plan was approved, in 2022 IGD will return to being the “dividend company”.
The Board of Directors, met on 24 February 2022, proposed that the shareholders approve, subject to the approval of the financial statements for the year ended on 31 December 2021 and the Directors’ Report, a dividend of 35euro cents per share (for a total distributed of €38.6 million or 59.7% of the FFO). The dividend yield on the stock price recorded at 23 February 2022 would be equal to approximately 8,6%. The dividend will go ex-div on 9 May 2022 with the detachment of coupon n. 5 and will be payable as from 11 May 2022.
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.
Rewarding its shareholders has been a priority for IGD since its IPO in 2005.
Dividend highlights are provided below.
|Shares outstanding at 31/12||110,341,903||110,341,903||110,341,903||110,341,903||81,304,563*||813,045,631||813,045,631||756,356,289||348,001,715|
|Treasury shares at 31/12||0||0||32,118||75,126||0||0||0||0||10,976,592|
|Official closing price at 31/12 (€)||3,86||3,6||6.2||5.382||8.962||0.724||0.887||0.645||0.865|
|Par value (€)||none||none||none||none||none||none||none||none||none|
|Market capitalization at 31/12 (€)||425,919,744||397,230,848||684,119,808||593,860,100||728,488,884||588,645,037||720,764,952||487,849,806||301,021,483|
|Dividend per share (€)||0.35||-||0.228152||0.50||0.50**||0.045||0.040||0.0375||0.065|
|Dividend yield (%)||8.6***||-||6.44||9.29||5.58||6.2||4.6||5.8||7.5|
|Ex-div date coupon||09/05/2022||-||20/07/2020||13/05/2019||11/06/2018||22/05/2017||23/05/2016||18/05/2015||19/05/2014|
*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 2021 profit to the Shareholders’ Meeting
2010-2021 historical dividends (14 KB – xlsx)