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 2017 (on the basis of FY 2016 Results)
The Shareholders' Meeting held on May 4, 2017approved the proposal to limit the remuneration of the share capital to the payment solely of the privileged dividend to savings shares, as per Bylaws (5% of 0.55 euro per share, or 2,75 eurocent), allocating 165,764,271.73 euros to distribution.
The remaining profit will be carried forward.
Download the press release published at the end of the Shareholders' Meeting
The dividend will be paid to the entitled parties based on the evidence in the share deposit accounts at the end of the record date of 20 June 2017, starting from the coming 21 June 2017, while the coupon date will be 19 June 2017.
Dividends per Ordinary Shares and per Savings Shares
The following table sets forth the dividends per Ordinary Share and per Savings Share declared by Telecom Italia with respect to each of the last five fiscal years (dividend history is available above, on the right) and the aggregate dividends paid in such years. Actual dividends paid are rounded to the nearest whole cent.
* Euro amounts have been translated into U.S. dollars using the Noon Buying Rate in effect on the respective payment dates. For the year ended December 31, 2016, Euro amounts have been translated into U.S. dollars using the Noon Buying Rate in effect on March 31, 2017.
(Table Source: Telecom Italia Form 20F 2016)
About Telecom Italia shares...
The amount and conditions for the payment of the dividend 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 types of shares:
- ordinary shares, the holders of which have the right to attend, intervene and vote during ordinary and extraordinary Shareholders’ Meetings. They 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, the holders of which do not have the right to vote neither in ordinary nor in extraordinary Shareholders’ Meetings but benefit from the distribution of the net income for the year up to five per cent of 0,55 euros per share and, in any case, a higher dividend by two per cent of 0.55 euros per share.