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Full Year 2018 Azimut Holding SpA Earnings Call Transcript
Good afternoon. This is the chorus call conference operator. Welcome, and thank you for joining the Azimut Holding Full Year 2018 Results Conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Pietro Giuliani, Chairman of Azimut Holding, for some opening remarks. Please go ahead, sir.
Thank you. Good afternoon to everybody. Thanks for being here. I'd like to provide 4 key remarks today. Before I leave the floor to my colleagues for the formal presentation and Q&A session, I will not participate, well, the 4 key remarks. Number one, dividend. The board decided to propose a DPS of EUR 1.50, about under 40% payout and about 12% as yield.
For the second consecutive year, highest dividend yield amongst FTSE MIB members. Technically, the dividend is based on the previous year's earnings, however, this amount is based on Azimut generating EUR 300 million of net profit in full year 2019, the last of our 5-year business plan, and the only one still not to
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