Ferrari: dividend to fall in line with earnings

(CercleFinance.com) - Ferrari plans to reduce the share of net profit returned to shareholders in the form of dividends after seeing its net profit fall by almost a quarter last year.


In a statement on Friday evening, the sports car manufacturer says it plans to pay a dividend of 86.7 cents per ordinary share this year, a plan that will be voted on by its shareholders at its AGM that is scheduled for 15 April.

For the record, Ferrari proposed its shareholders a dividend of 1.13 euro for its previous financial year.

The Maranello based group last month announced adjusted net profit of 534 million euros for FY 2020, compared with 699 million euros in 2019.

The Ferrari share is currently up about 1% on the Milan Stock Exchange.


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