(Finance) – The Shareholders of Ferrari they approved the balance 2023, expressed a positive opinion regarding the Remuneration Report for 2023 and approved the proposal to distribute a dividend in cash1 of 2.443 Euros for each ordinary share in circulation, equal to a total dividend of approximately 440 million Euros.
The dividend will have the ex-dividend date of the outstanding ordinary shares on 22 April 2024 (ex date).
The Assembly re-elected all Ferrari directors who stood for election. John Elkann and Benedetto Vigna have been re-elected executive directors of Ferrari. Piero Ferrari, Delphine Arnault, Francesca Bellettini, Eduardo H. Cue, Sergio Duca, John Galantic, Maria Patrizia Grieco, Adam Keswick and Michelangelo Volpi have been re-elected as non-executive directors of Ferrari.
The Shareholders’ Meeting renewed the delegations to the Board of Directors of the Company to issue ordinary shares (for a period of eighteen months from the date of today’s Shareholders’ Meeting), assign rights to subscribe to ordinary shares and to limit or exclude pre-emption rights for the shares ordinary (for a period of eighteen months from the date of today’s meeting), in compliance with certain ceilings.
Shareholders have approved the change to the Remuneration Policy of the Board of Directors in order to adapt it to the new legislation.
Furthermore, the Assembly has renewed to the Board of Directors, for a period of eighteen months from the date of today’s Meeting, the existing authorization to purchase ordinary shares of the Company up to a maximum of 10% of the ordinary shares issued on the date of the Meeting. On the basis of the delegation, which does not imply any obligation for the Company but is designed to provide additional flexibility, the Board of Directors will be able to purchase ordinary shares of the Company in compliance with current laws and regulations and certain minimum and maximum price thresholds.