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De’ Longhi Shareholders’ Meeting approves a dividend of €0.54 for each eligible share

De’ Longhi

TREVISO, Italy – The De’ Longhi S.p.A. Shareholders’ Meeting held on 15 December, 2020, approved, by unanimous vote of the shareholders represented (i.e. 89.46% of the total amount of the voting rights), the proposal by the Board of Directors for the distribution of a dividend of €0.54 for each eligible share.

In light of the good performance of the Company and the Group, the Board of Directors met on 10 November to renew for the Shareholders’ Meeting the proposal to distribute a dividend of the same amount as that proposed at the time the financial statements for the year ending 31 December 2019 were approved (equal to €0.54 for each share in circulation entitled to receive a dividend), since the reasons for caution behind the decision made by the Shareholders’ Meeting on 22 April 2020 – in acceptance of the proposal of the majority shareholder De Longhi Industrial S.A. – not to distribute, at that time, the dividends accrued during 2019, given the general uncertainty resulting from the Covid-19 pandemic.

The dividend approved today will be drawn from the extraordinary reserve formed also with the 2019 profits and will be paid on 23 December 2020 (the ex-coupon date is 21 December and the record date is 22 December 2020).

Listed on the Borsa Italiana’s main stock market, MTA, since 2001, De’ Longhi distributes its products, with the De’ Longhi, Kenwood, Braun and Ariete brands, in more than 120 markets worldwide and has over 8500 employees.

In 2019, the Group reported revenues of €2,101 million, an adjusted EBITDA of €295 million and a net profit of €161 million.