Ferrari, dividend at EUR 2.443 per share (+35%)
At the shareholders' meeting on 17 April 2024 proposed coupon increase 2023 - But the real reward for shareholders was in the share price jump on the stock exchange
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The real remuneration for shareholders was the share price appreciation on the stock exchange. The dividend compared to the monstrous value of the shares is little. However, the coupon is also growing strongly. Ferrari N.V. announces that its board of directors intends to propose a dividend distribution to the company's shareholders of EUR 2.443 per ordinary share, an increase of about 35% year-on-year, for a total distribution of about EUR 440 million.
To the members' vote
.The distribution will be subject to its approval by the shareholders' meeting scheduled for 17 April 2024. Should the proposed dividend distribution be approved by the shareholders, the ex-dividend date is expected to be 22 April 2024, the entitlement date (record date) 23 April 2024 for ordinary shares traded on both the EXM in Italy and the NYSE in the US and the dividend payment date (payment date) 3 May 2024.
Accounts 2023
Ferrari closed 2023 with record results and profits that exceeded one billion euros for the first time. Fourth-quarter results were also good: the Maranello-based company reported profits up 33% to €294 million and revenues up 11% to €1.523 billion. For the year, profits were up 34% to 1.257 billion and revenues up 17% to 5.97 billion. The company also provided guidance for 2024, up from 2023 values with, in particular, revenues of over EUR 6.4 billion.
