Generali: stock upbeat after FY results
(CercleFinance.com) - The Generali share is up almost 1% on the Milan Stock Exchange towards midday on Thursday, after the group presented annual accounts that remain upbeat, coupled with an increase in its dividend, with the group maintaining its forecasts.
In 2018, gross premiums issued by the Trieste based insurer increased by 4.9% to 66.7 billion euros. The group's operating profit (+3% to 4.9 billion euros) and net profit (+9.4% to 2.3 billion euros) are both up, which will lead it to propose a 5.9% increase in its dividend at its AGM, to 0.90 euro per share.
The group believes that it has exceeded all the targets of its medium-term program from 2015 to 2018, particularly in terms of cash flow generation, dividends and return on equity, and this, despite a difficult macroeconomic context.
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