Intesa Sanpaolo Doubles Dividend Payout in 2015
February 05 2016 - 9:07AM
Dow Jones News
By Liam Moloney and Giovanni Legorano
ROME--Intesa Sanpaolo said Friday its fourth-quarter net profit
declined 73% to 13 million euros ($14.6 million) and was
substantially lower than in the previous three quarters of last
year, due to a one-off contribution to a bailout fund set up to
rescue four smaller Italian lenders.
In a statement, Intesa Sanpaolo said its fourth-quarter net
profit would have been EUR263 million if the charges for the
resolution fund were excluded.
The bank said it plans to pay a EUR0.14 ordinary dividend and
EUR0.151 savings share for 2015, compared with EUR0.07 for each
ordinary share and EUR0.081 a savings share for the previous year.
The 2015 total dividend payout will be worth EUR2.4 billion, twice
as much as a year earlier.
Last November, the bank's Chief Executive Officer Carlo Messina
had said the bank could have paid a higher dividend for 2015 than
the EUR2 billion the bank planned to pay given the positive results
it had achieved.
Analysts polled by Factset expected the bank to post a net
profit of EUR70 million for the last three months of 2015.
Write to Liam Moloney at liam.moloney@wsj.com and Giovanni
Legorano at giovanni.legorano@wj.com
(END) Dow Jones Newswires
February 05, 2016 08:52 ET (13:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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