Banca Generali confirms guidance, sets dividend at 1.65 euros per share

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Feb 9 (Reuters) -Italy's Banca Generali BGN.MI confirmed its objectives for the 2022-24 period despite turbulence and uncertainty over the past year, the group said on Thursday.

The asset manager pledged to distribute a dividend of 1.65 euros per share, representing a total payout of 90.5% on 2022 consolidated net profit.

Its net interest income grew by 74% to 145 million euros ($156 million) in 2022 and net recurring fees remained stable at 452 million euros.

The lender will pay the last tranche of the 2021 dividend, amounting to 0.80 euros, by Feb. 22.

It will issue a first tranche of the dividend from 2022 earnings, amounting to 1 euro, in May and a second tranche of 0.65 euros in Feb. 2024.

($1 = 0.9292 euros)

Reporting by Alessandro Parodi, editing by Keith Weir


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