Italian Wine Brands, the board of directors proposes an extraordinary dividend of 4.6 million euros

A substantial “Christmas gift”, considering that the sum to celebrate the 10 years since the quotation in Stock Market (on Euronext Growth Milan di Borsa Italiana Index) is over 4.6 million euros: the extraordinary dividend of 0.5 euros per action amounts to this data (before statutory withholding tax, and excluding own portfolio shares), which the board of directors of Italian Wine Brands, one of the most important realities of Italian wine considering its turnover (429 million of euros of profit in 2023, 50 property brands all over Italy for 180 million of bottles produced every year, and an export share of 80%) decided through discussion to distribute to the general meeting of shareholders (called for January, 27) from available reserves formed by retained revenues. “The board of directors has considered worthwhile to formulate the proposal of distribution of an extraordinary dividend in the occasion of the ten years since the quotation of the society, considering the exceptional path of growth, and of the value creation realized by the society in these ten years, of the recognition of the support, always accorded by shareholders, to the path of development of Iwb both organic and for external lines”, explains a note.
Alessandro Mutinelli, president and ad of the Group, underlines: “on January, 29th, Iwb will celebrate 10 years since its quotation. It is an important date for all of us, a moment also for a financial report of this exciting path of growth and of value creation. We created what we promised the first day of quotation, that of creating an Italian leader group on international markets. Our status as listed company allowed us to aggregate many other Italian and foreign realities, expand and diversify our markets, products, commercial channels, and brands. We decided to call a shareholders’ meeting in conjunction with this anniversary in order to propose to them an extraordinary dividend as tangible recognition and sign of this goal”.
In the first 6 months 2024, Italian Wine Brands, as emerged by the biannual report approved on 2024, June, 30th, made 191.2 million of euros of earnings by sales, dropping by -2.8%, but with all other indicators growing significantly: the gross operating margin has been of 21.9 million euros (+27%), the net result of the period of 9.1 million euros (+97.6%). A Group, that, as main shareholders (with a share over 5% each) sees at the top Gruppo Pizzolo (14.8%), then Provinco (7.1%), and Otus Capital Management (5.71%).