Intesa Sanpaolo's Planned Entity With UBI Banca to Pay 2020 Dividend of EUR0.20 a Share
18 Fevereiro 2020 - 4:29AM
Dow Jones News
By Mauro Orru
Intesa Sanpaolo SpA said Tuesday that the new entity emerging
from the planned combination with Unione di Banche Italiane SpA
would pay a dividend of 0.20 euros ($0.22) a share for 2020.
Intesa Sanpaolo yesterday launched a bid to acquire its rival in
a deal valued at EUR4.86 billion, under which UBI Banca
shareholders will get 17 newly issued shares of Intesa Sanpaolo for
every 10 UBI Banca shares held.
Intesa Sanpaolo's Chief Executive Carlo Messina said the
dividend from the combined entity would be above EUR0.20 a share
for 2021.
Intesa plans to delist UBI Banca, the fourth-largest banking
group in Italy by number of branches, with a market share of about
7%, when the deal is completed.
Mr. Messina said the combined entity would have net income of
more than EUR6 billion in 2022, with a common equity ratio--a key
measure of capital strength--above 13%.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 18, 2020 02:14 ET (07:14 GMT)
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