Shares and dividends

Over the time horizon of the 2022-2025 Business Plan: a cash dividend distribution was envisaged corresponding to a payout ratio, based on the consolidated net income, of 70% each year of the Plan; in the second half of 2022 and the first half of 2023 a buyback was executed for a total of 3.4bn euro (*); in 2024, a buyback of 1.7bn euro was executed, launched in June and concluded in October.

For the 2024 results, cash interim dividends of 3bn euro paid in November 2024 and
cash remaining dividends of 3.1bn euro proposed, to be paid in May 2025
subject to approval from the Shareholders’ Meeting.

In 2025, a buyback of 2bn euro (authorised by the ECB) proposed, to be launched in June 2025
subject to approval from the Shareholders’ Meeting.
 

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(*) Amount equivalent to the suspended 2019 dividend