Snam Rete Gas: The Ordinary Shareholders’ Meeting approves the distribution of an extraordinary dividend and buy-back plan
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Snam Rete Gas: The Ordinary Shareholders’ Meeting approves the distribution of an extraordinary dividend and buy-back plan

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Distribution of an extraordinary dividend of 1 euro per share approved

Buy-back plan of up to 800 million euro authorised

Today at the Ordinary Shareholders’ Meeting of Snam Rete Gas shareholders approved the distribution of an extraordinary dividend of 1 euro per share that will be paid out starting from November 24, 2005 and trade ex dividend on November 21, 2005. The dividend will be sourced from profits retained from previous years and from “Share premium reserves�?.

0.639 euro of the dividend will be subject to the same fiscal regime as the distribution of the annual net profit, and therefore it is subject to the specific taxation of each recipient. 0.361 euro will not constitute taxable income for shareholders, while the share fiscal cost will be reduced by the amounts received.
The Shareholders’ Meeting also authorised a buy-back plan of up to 800 million euro within a limit of 10% of share capital. Shareholders authorised the Board of Directors to buy up to 194,737,950 shares in Snam Rete Gas, par value of 1 euro each, on the Italian Stock Exchange within eighteen months of the Shareholders’ Meeting resolution. The shares will be bought at prices that are not less than the par value and not greater than 5% above the reference price recorded on the day preceding each purchase. The Chairman has also been awarded power to carry out this resolution via proxies.

 

Company contacts

Investor Relations
Claudia Carloni, Head of IR
Stefano Marciano – Davide Romanò
e-mailbox: investor.relations@snamretegas.it
Tel.: +39.02.520.38272 - fax: +39.02.520.38650

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updated
05 August 2016 - 16:18 CEST