(Alliance News) - Saccheria F.lli Franceschetti Spa announced Tuesday that the board has decided to call a shareholders' meeting to which it will submit the distribution of a dividend of EUR0.043 per share.

If approved, the payment will take place on January 17, two days after the ex date and one day after the record date. The dividend yield is 4.1 percent from Monday's last closing share price.

In addition, the board will ask shareholders for approval to initiate a buyback program of up to 177,010 shares, for which it may invest no more than EUR400,000.

Luigi Wilmo Franceschetti, chairman, and Luisa Franceschetti, managing director of Saccheri F.lli

Fraceschetti, said, "The decision to distribute an extraordinary dividend is simply a way to reward those who have believed, believe and will believe in Saccheria. The commitment of Saccheria's management to remunerate, through the instrument of dividends, our shareholders is a cornerstone of our strategy. The cash surplus generated in 2023 allows us to recognize an extraordinary dividend of EUR0.043 per share, in addition to the dividend already distributed in May of EUR0.041.; we believe that in such a complicated period, with inflation that has significantly eroded people's purchasing power, recognizing an extraordinary dividend is an important signal."

"The buyback operation, on the other hand, stems from an awareness of the value of our company and we believe it is appropriate, also in view of future strategies, to proceed with the purchase of our own shares."

The stock of Saccheria F.lli Franceschetti is up 8.7 percent at EUR1.13 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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