Enpam: Intesa-Banco Bpm holdings generate 1.1 billion in dividends and capital gains
Olive groves: Invested with a long-term perspective, no speculation
Enpam’s shareholdings in Intesa Sanpaolo (approximately 0.7%) and Banco Bpm (1.99%) have generated over €1.1 billion in value through dividends and rises in share prices on the stock market. This was reported by the pension fund for doctors and dentists, referring to last night’s closing share prices, and specifying that over a three-year period, 279.8 million was invested in Intesa Sanpaolo and 73.9 million in Banco Bpm. “At Enpam, we let our results and facts speak for themselves – these are the result of sound practices and diversification,” emphasises President Alberto Oliveti – “Among the many investments we make, we have in fact purchased shares in these two banks, allocating around 354 million euros – just over 1 per cent of the fund’s current assets. To date, these 354 million have grown to a total of 1.47 billion euros, thanks to the dividends received and the rise in share prices.” These investments, the chairman maintains, were “made over time” and “maintained with a long-term, prudent approach”: they are not “speculative transactions” or “financial escapades”.
In particular, Enpam received 144.4 million in dividends from Intesa Sanpaolo and 91.9 million from Banco Bpm, whilst potential capital gains amount to 472.1 million euros on shares in the group led by Carlo Messina and 405.6 million for thethe bank led by Giuseppe Castagna. The organisation concludes, therefore, that Enpam’s investment in Intesa Sanpaolo has yielded a return of 220 per cent to date, and that in Banco Bpm a return of 673 per cent.
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