Market Ratios - Historical figures

Price/book value
The indicator reflects the value attributed by the market to the Shareholders' equity of a listed company, hence indirectly to the company’s overall assets. The indicator for 2019 is reported in relation to both average figures and year-end figures.

(millions of euro)

	31.12.2019	2019	2018	2017	2016	2015
Market capitalisation	41,122	36,911	44,947	44,820	37,152	51,903
Group's Shareholders' equity	55,968	54,996	53,646	52,558	48,344	46,230
PRICE/BOOK VALUE	0.73	0.67	0.84	0.85	0.77	1.12

Pay-out ratio
The indicator reports the portion of net income paid out as dividends.

(millions of euro)

	2019 (°)	2018	2017	2016	2015
Net income	4,182	4,050	7,316	3,111	2,739
Dividends ^(*)	-	3,449	3,419	2,999	2,361
PAY-OUT RATIO	-	85%	47%	96%	86%

_{(°) The Intesa Sanpaolo Shareholders’ Meeting of 27 April 2020 approved the proposal made by the Board of Directors at its meeting of 31 March 2020, in compliance with the recommendation of the European Central Bank dated 27 March 2020 on dividend policy until 1 October 2020 in the aftermath of the COVID-19 epidemic, to suspend dividend distribution to shareholders and to allocate net income for the financial year 2019 to reserves. This recommendation was prolonged till 1 January 2021 following the ECB communication of 28 July 2020 and subsequently replaced by the recommendation issued on 15 December 2020 and having deadline as at 30 September 2021.
(*) For 2017 and 2016, the amounts were partially assigned from reserves.}

Dividend yield
This indicator measures percentage return on the share, calculated as the ratio between dividends for the year and the average annual market price in the reference year.

(euro)

	2019 (°)	2018	2017	2016	2015
Ordinary share
Dividend per share	-	0.197	0.203	0.178	0.140
Average stock price	2.108	2.567	2.678	2.220	3.109
Dividend yield	-	7.67%	7.58%	8.02%	4.50%
(°) The Intesa Sanpaolo Shareholders’ Meeting of 27 April 2020 approved the proposal made by the Board of Directors at its meeting of 31 March 2020, in compliance with the recommendation of the European Central Bank dated 27 March 2020 on dividend policy until 1 October 2020 in the aftermath of the COVID-19 epidemic, to suspend dividend distribution to shareholders and to allocate net income for the financial year 2019 to reserves. This recommendation was prolonged till 1 January 2021 following the ECB communication of 28 July 2020 and subsequently replaced by the recommendation issued on 15 December 2020 and having deadline as at 30 September 2021.
Savings share
Dividend per share	-	-	0.214	0.189	0.151
Average stock price	-	-	2.517	2.084	2.784
Dividend yield	-	-	8.50%	9.07%	5.42%

Last updated 18 December 2020 at 17:52:05