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INTESA SANPAOLO: BOARD OF DIRECTORS APPROVES DRAFT FINANCIAL STATEMENTS OF PARENT COMPANY, AS WELL AS CONSOLIDATED FINANCIAL STATEMENTS, AS AT 31 DECEMBER 2020

 

Turin - Milan, 23 March 2021 – At its meeting today, the Board of Directors of Intesa Sanpaolo approved the parent company’s draft financial statements, as well as the consolidated financial statements, as at 31 December 2020. They confirm the 2020 results which were approved by the Board and announced on 5 February 2021. The parent company’s net income was 679 million euro  (2,137 million euro in 2019, 3,084 million euro restated to reflect the corporate actions undertaken in 2020) and the consolidated net income was 3,277 million euro (4,182 million euro in 2019).

Furthermore, the Board of Directors approved the proposal for allocation of 2020 net income. This proposal was adopted by the Board at the same time as it approved the results as at 31 December 2020, and was announced on 5 February 2021.

The parent company’s financial statements as at 31 December 2020 and the proposal regarding a cash distribution of 3.57 euro cents per share, before tax, will be submitted for the approval of shareholders at the Ordinary Meeting scheduled for 28 April 2021. Specifically, the Board’s proposal envisages the cash distribution of 693,667,539.99 euro (*), deriving from 3.57 euro cents on each of the 19,430,463,305 ordinary shares. No distribution will be made to own shares held by the Bank at the record date. The dividend payment, if approved at the Shareholders’ Meeting, will take place from 26 May 2021 (with coupon presentation on 24 May and record date on 25 May).

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(*)    The proposal envisages a cash distribution of 532,394,694.56 euro as dividends on the parent company’s net income (corresponding to 2.74 euro cents on each share) and 161,272,845.43 euro as assignment of reserves drawn on the Share Premium Reserve (corresponding to 0.83 euro cents on each share). The assignment of reserves shall be subject to the same tax regime as the distribution of dividends.
 

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