INTESA SANPAOLO: BOARD OF DIRECTORS APPROVES DRAFT FINANCIAL STATEMENTS OF PARENT COMPANY,
AS WELL AS CONSOLIDATED FINANCIAL STATEMENTS, AS AT 31 DECEMBER 2021
Turin - Milan, 1 March 2022 – 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 2021. They confirm the 2021 results which were approved by the Board and disclosed to the market on 4 February 2022. The parent company’s net income was 2,948 million euro (679 million euro in 2020) and the consolidated net income was 4,185 million euro (3,277 million euro in 2020).
Furthermore, the Board of Directors approved the proposal for allocation of the 2021 net income. This proposal was adopted by the Board at the same time as it approved the results as at 31 December 2021, and was disclosed to the market on 4 February 2022.
The parent company’s financial statements as at 31 December 2021 and the proposal regarding a cash distribution of 7.89 euro cents per share, before tax, as remaining dividend will be submitted for the approval of shareholders at the Ordinary Meeting scheduled for 29 April 2022. Specifically, the Board of Directors has decided to propose the distribution of 2,931,791,814.36 euro in total on the 2021 net income, which taking into account the interim dividends paid in November 2021 equal to 1,398,728,259.60 euro (*) leads to the proposal for a distribution of 1,533,063,554.76 euro (**) as remaining dividends, deriving from 7.89 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 25 May 2022 (with coupon presentation on 23 May and record date on 24 May).
(*) Interim dividends are considered net of the portion not distributed to own shares held by the Bank at the record date, which was equal to 2,208,144.69 euro.
(**) On the basis of the Parent Company’s net income of 2,947,642,948.34 euro of which 232,635,704.80 euro to be allocated to reserves as fair value valuations effect, the proposal envisages a cash distribution of 1,299,897,995.10 euro as remaining dividends on the Parent Company’s net income (corresponding to 6.69 euro cents on each share) and 233,165,559.66 euro as assignment of reserves drawn on the Share Premium Reserve (corresponding to 1.20 euro cents on each share). The assignment of reserves shall be subject to the same tax regime as the distribution of dividends.
Last updated 1 March 2022 at 12:58