Dividends at the end of 2022 and the beginning of 2023

Dividends at the end of 2022 and the beginning of 2023

ENI and STM will be the first FTSEMib companies to reward their shareholders: the two companies will detach the coupon on 19 September

In Piazza Affari the autumn-winter round of dividend cuts is about to begin.

ENI and STM will be the first FTSEMib companies to reward their shareholders. On September 19, 2022, the oil giant will distribute the first tranche of the 2023 dividend (relating to financial year 2022), while the Italian-French group will detach the second tranche of the coupon relating to financial year 2021.

In the following tables the deadline for dividends at the end of 2022 and the beginning of 2023.

The tables will be updated whenever indications on dividends arrive (Tables updated on 26 August 2022):

FTSEMib dividends

Society Proposal of
dividend
Typology Date of detachment Payment date
Banca Generali 0.8 euros 2nd tranche financial year 2021 February 20, 2023 February 22, 2023
ENI ** 0.22 euros 1st tranche financial year 2022 September 19, 2022 September 21, 2022
ENI ** 0.22 euros 2nd tranche financial year 2022 November 2022 November 2022
ENI ** 0.22 euros 3rd tranche financial year 2022 March 2023 March 2023
ENI ** 0.22 euros 4th tranche financial year 2022 May 2023 May 2023
Mediobanca 0.75 euros Ordinary November 21, 2022 November 23, 2022
STM ** 0.06 dollars 2nd tranche financial year 2021 September 19, 2022 September 21, 2022
STM ** 0.06 dollars 3rd tranche financial year 2021 December 12, 2022 December 14, 2022
STM ** 0.06 dollars 4th tranche financial year 2021 March 20, 2023 March 22, 2023

MidCap dividends

Society Proposal of
dividend
Typology Date of detachment Payment date
BFF Bank 0.3708 euros Advance payment for the year 2022 August 22, 2022 August 24, 2022
ENAV € 0.1081 Ordinary October 24, 2022 October 26, 2022
MFE-A 0.05 euros Ordinary September 19, 2022 September 21, 2022
MFE-B 0.05 euros Ordinary September 19, 2022 September 21, 2022
Piaggio 0.085 euros Advance payment for the year 2022 September 19, 2022 September 21, 2022

STAR dividends

Society Proposal of
dividend
Typology Date of detachment Payment date
Equita Group 0.15 euros 2nd tranche financial year 2021 November 21, 2022 November 23, 2022
IVS Group 0.11 euros Ordinary September 19, 2022 September 21, 2022
SeSa 0.9 euros Ordinary September 19, 2022 September 21, 2022

Euronext Milan dividends

Updating

Euronext Growth Milan dividends

Updating

** = The dividend of ENI and STM is distributed in four tranches (the first tranche of the dividend of STM was detached on 20 June 2022)

Here’s how to collect dividends

How to collect the dividends of the Piazza Affari companies? It is important to remember that the right to collect the dividend it matures if and only if you own the share on the day on which the security detaches the coupon. A date proposed to the shareholders’ meeting – equal to the sum of the dividend – by the board of directors of the company when the accounts for the entire year are approved by the board. Which in turn the shareholders must confirm.

Therefore:

  • do you have the right to collect the dividend if you sell the stock on the same day as the ex-dividend date? Yes, as on the same day the stock will already be quoted ex dividend and the operation is neutral;
  • do you have the right to collect the dividend if you sell the stock the day before the ex-dividend date? No, you will not be entitled to any coupon;
  • do you have the right to collect the dividend if you buy the stock on the ex-dividend day? Again the answer is no.

An example of ex dividend

The detachment of a dividend it is simple but with some peculiarities to know. Let’s see it with a numerical example.

Let’s assume that a stock detaches its dividend on Monday, November 21, 2022 and that the coupon is equal to 0.2 euros per share. The stock in question closed the previous session (on Friday 18 November 2022) with a price of 20 euros (with a dividend yield, ie the dividend yield, of 1%).

At the opening of the session on Monday 21 November 2022, the trading of the bond that has detached the coupon will start from a price of 19.8 euros, equal to the difference between the price of the previous closing and the detached dividend. This means that those who buy the stock on the ex-dividend day are not entitled to receive the dividend, otherwise the operation would no longer be neutral.

Finally, on the payment day, the shareholder physically receives the money. The payment day is usually set 2 days later. In the case of the example Wednesday 23 November 2022.

Video – Dividends, what they are and how the deadline works:


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