(Finance) – The shareholders of The Italian Sea Group approved the financial statements at 31 December 2021 and the proposal of the Board of Directors relating to the distribution of a dividend of € 0.185 per share. The total dividend, equal to 9.8 million euros, corresponds to a pay-out of approximately 60% of the Group’s net result and indicates an increase of 58% compared to the 2020 dividend.
The distribution will take place in favor of shareholders with shares identified by the ISIN code IT0005439085, with the coupon detachment on May 9, 2022, the record date on May 10, 2022 and payment on May 11, 2022.
During the session, the Assembly also has approved the proposal for a buy-back and disposal program for own shares of the Company, for a maximum number of 3,710,000 shares, corresponding to 7% of the share capital of TISG as of December 31, 2021, for a period of 18 months from today’s date.
Filippo Menchelli, Chairman of the Board of Directors of The Italian Sea Group he commented: “The results that the Assembly approved today indicate one significant growth gained in 2021, as a reflection of The Italian Sea Group’s success in the mega and giga yacht business. These results have allowed us to offer an attractive remuneration to shareholders, confirming the ability to generate value and guarantee significant returns on the investment “.
Giovanni Costantino, Founder & CEO of The Italian Sea Grouphe re-launched: “Less than a year after the IPO, the business has achieved extraordinary results above market expectations and, to be honest, ours too. I could call them unthinkable a year ago. The financial means collected during the listing allowed us to invest in growth and carry out the important acquisition of Perini Navi. We have thus strengthened our positioning in a market segment with very high potential, adding to the brand portfolio two prestigious brands such as Perini Navi and Picchiotti, which will allow us to respond to the requests of a new and increasingly global clientele. I would like to thank the collaborators, partners, suppliers, consultants and all those who, with great commitment and daily dedication, have contributed to the achievement of these extraordinary results. My thanks also and above all go to the shareholders who believed in the business plan “.