Shares and dividends
We present here the historical data on the stock since our return to the stock market in 2016 – including capitalisation and price per share at year-end – as well as the evolution of the share capital over the last 5 years and the dividend policy.
Historical stock and key share data
Italgas shares closed 2023 at 5.18 euros per share. From its return to listing on 7 November 2016 to 31 December 2023, the share price rose by 29.7%. Including dividends, the total shareholder return was 81.5% over the same period. Our market capitalisation exceeded 4.2 billion euros at the end of 2023 compared to just over €3 billion in 2016.
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Number of shares of share capital | 809 | 809 | 809 | 809 | 809 | 810 | 810 | 811 |
| Number of shares outstanding as at 31 December (millions) | 809 | 809 | 809 | 809 | 809 | 810 | 810 | 811 |
| Average number of shares outstanding in the year (millions) | 809 | 809 | 809 | 809 | 809 | 810 | 810 | 811 |
| Share price at year end (€) | 3.73 | 5.09 | 4.99 | 5.44 | 5.20 | 6.052 | 5.19 | 5.18 |
| Market capitalisation (a) (billions) | 3.02 | 4.12 | 4.04 | 4.40 | 4.26 | 4.90 | 4.21 | 4.20 |
(a) Product of the number of shares in circulation (exact number) multiplied by the official price per share at the end of the period.
Changes in share capital over the last five years
On 12 March 2024, the Board of Directors carried out a capital increase by issuing 497.089 new shares for the beneficiaries of the 2018-2020 Co-investment Plan. The share capital thus amounts to 1.003.843.958,76 euros and consists of 811.242.309 shares.
|
Year |
Structure of the Share Capital |
|
2016 |
1 June 2016 – The Company is incorporated with a share capital of EUR 50,000.00, fully paid up, divided into 50,000 shares with no express par value. 7 November 2016 – At the same time as the separation from the Snam group, the Company increased its share capital to €1,001,231,518.44, divided into 809,135,502 shares with no express par value. |
|
2017 |
There were no changes in the share capital during the year. The share capital is 1,001,231,518.44 euros, divided into 809,135,502 shares with no express par value. |
|
2018 |
There were no changes in the share capital during the year. The share capital is 1,001,231,518.44 euros, divided into 809,135,502 shares with no express par value. |
| 2019 | There were no changes in the share capital during the year. The share capital is 1,001,231,518.44 euros, divided into 809,135,502 shares with no express par value. |
| 2020 | There were no changes in the share capital during the year. The share capital is 1,001,231,518.44 euros, divided into 809,135,502 shares with no express par value. |
| 2021 | Following the capital increase carried out by the Board of Directors on March 10, 2021, through the issue of 632,852 new shares, the share capital amounts to 1,002,016,254.92 euros consisting of 809,768,354 shares. in Italian. |
| 2022 | Following the capital increase carried out by the Board of Directors on March 9, 2022, through the issue of 477,364 new shares, the share capital amounts to 1,002,608,186.28 euros consisting of 810,245,718 shares. |
| 2023 | Following the capital increase carried out by the Board of Directors on March 9, 2023, through the issue of 499,502 new shares, the share capital amounts to 1,003,227,568.76 euros consisting of 810,745,220 shares. |
| 2024 | Following the capital increase carried out by the Board of Directors on March 12, 2024, through the issue of 497,089 new shares, the share capital amounts to 1,003,843,958.76 euros consisting of 811,242,309 shares. |
An attractive, growing and sustainable dividend policy
We strive to ensure an attractive and sustainable return for our shareholders, as well as a low risk profile, resulting from us operating mainly in regulated markets and the strength of our capital structure.
The new dividend policy, that updates and extends to 2026 the previous one was announced in June 2023. The policy provides for the distribution of a dividend equal to the greater of (i) the amount resulting from the 2022 DPS (0.317 euros) increased by 4% per year and (ii) the DPS equal to 65% of the adjusted EPS.
The dividend relative to the fiscal year 2023 was equal to 0.352 euros per share, up 11% compared to the previous year.
From 2016, when Italgas shares were re-listed, to the end of 2023, dividends per share cumulatively distributed amounted to 2.14 euros. Therefore, cumulative Total Shareholder Return was 81.5%.