Italgas FY dividend share EUR 0.432
TL;DR
Italgas declares a 2024 dividend of EUR 0.432 per share, a 22.7% increase from 2023, under a new policy prioritizing higher payouts based on earnings or growth. The company has delivered strong cumulative dividends and shareholder returns since its 2016 relisting, supported by stable operations and a growing market cap.
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Italgas FY dividend share EUR 0.432
Italgas Announces 2024 Dividend of EUR 0.432 Per Share
Italgas SpA has declared a dividend of EUR 0.432 per share for the fiscal year 2024, marking a 22.7% increase from the 2023 dividend of EUR 0.352 per share. This follows the company's updated dividend policy, announced in October 2024, which prioritizes distributing the greater of two metrics: (i) the prior year's dividend per share (DPS) increased by 5% annually or (ii) 65% of adjusted earnings per share (EPS). The 2024 payout reflects the higher of these calculations, indicating stronger earnings or a revised adjusted EPS compared to the 5% growth threshold.
Since its relisting on November 7, 2016, Italgas has delivered cumulative dividends of EUR 2.14 per share through 2023, contributing to a total shareholder return (TSR) of 81.5% over the period. The 2024 dividend further underscores the company's commitment to a "growing and sustainable" payout, supported by its operations in regulated markets and a stable capital structure.
Shareholders also benefit from a steady share price trajectory: Italgas' stock closed 2023 at EUR 5.18 per share, up 29.7% from its 2016 relisting price of EUR 3.73. As of December 31, 2023, the company's market capitalization stood at EUR 4.2 billion, reflecting a 40% increase from 2016 levels.
The dividend announcement follows a modest share capital expansion in March 2024, with the issuance of 497,089 new shares under the 2018–2020 Co-investment Plan, bringing the total shares outstanding to 811.24 million.
With its updated dividend framework extending through 2026, Italgas aims to balance shareholder returns with long-term financial resilience, aligning payouts to earnings growth while maintaining a low-risk profile. Investors will likely monitor future adjusted EPS performance to assess the sustainability of the current dividend trajectory.
(https://www.italgas.it/en/investors/share-and-shareholding/securities-dividends/): Italgas investor relations materials, March 2024 and October 2024 announcements.
