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Snam: the 2011 financial statements approved at the Annual Shareholders’ Meeting

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• Profit for the year of €692.7m
• Dividend of €0.24 per share, of which €0.10 already distributed as interim dividend

 

San Donato Milanese, 26 April 2012 - At the Snam Extraordinary and Ordinary Shareholders’ Meeting, held today in San Donato Milanese, the following was approved:

• the financial statements for the year ended 31 December 2011, reporting a profit of €692,728,698.14;

• the allocation of the residual profit for the year following the distribution of the 2011 interim dividend of € 0.10, amounting to € 354,865,203.84, to be divided as follows:

- € 34,636,434.91 to the legal reserve;

- paid to the shareholders as a dividend of € 0.14  for each existing share at  the ex-dividend date, excluding treasury shares, using the remaining available profit of € 320,228,768.93 and retained earnings of up to the overall amount of the dividend. This distribution will settle the dividend account from 2011, which currently stands at € 0.10 per share; thus, the total dividend for 2011 amounts to €0.24 per share;

• the payment of the balance of the dividend from 24 May 2012, with ex-dividend date set for 21 May 2012;

the reclassification of the “Share premium reserve�? under “Legal reserve�? to bring the latter up to the minimum limit required by Article 2430 of the Italian Civil Code.

At the Shareholders’ Meeting, the first section of the Remuneration Report 2012, was also approved, in accordance with Article 123- ter of the TUF.

Furthermore, at the Shareholders’ Meeting, Articles 13 and 20 of the Company’s Bylaws were amended to adopt the principle of gender representation on the corporate bodies, sanctioned by paragraph 1- ter of Article 147- ter, and paragraph 1- bis of Article 148 of the TUF.

 
 

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05 August 2016 - 16:19 CEST