‘We have paid about 4 billion in cash in 6 years, 2.5 billion of which to shareholders. Those who invested in Poste six years ago now get a return of 124%, more than doubling the value of their investment between dividends and share price.’ This is what Poste Italiane’s CEO Matteo Del Fante said during an interview with Il Sole 24 Ore. ‘For us,’ emphasises the CEO, ‘growth remains a crucial objective: the return for shareholders is implicit with growth, even in profits.’
Dividend policy
As for the possibility of improving the dividend policy, Del Fante explains: ‘I think the margins are there: when I arrived in 2017, I reduced the payout from 80 per cent to 60 per cent. The company has grown in the meantime and we do not have to put more resources into Poste Vita, quite the contrary, actually. So there is room for a revision of the payout; we will see with the business plan.’
