{"id":116469,"date":"2021-06-15T10:07:06","date_gmt":"2021-06-15T10:07:06","guid":{"rendered":"https:\/\/fin2me.com\/?p=116469"},"modified":"2021-06-15T10:07:06","modified_gmt":"2021-06-15T10:07:06","slug":"atlantia-mulls-share-buyback-dividends-after-motorway-sale","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/atlantia-mulls-share-buyback-dividends-after-motorway-sale\/","title":{"rendered":"Atlantia mulls share buyback, dividends after motorway sale"},"content":{"rendered":"

MILAN (Reuters) – Italy\u2019s Atlantia is considering a share buyback of up to 2 billion euros ($2.4 billion) and the payment of 600 million euros in dividends next year after it agreed to part ways with motorway unit Autostrade per l\u2019Italia.<\/p>

FILE PHOTO: The logo of an infrastructure group Atlantia is seen outside their headquarters, in Rome, Italy October 5, 2020. REUTERS\/Guglielmo Mangiapane\/File Photo<\/figcaption>

The conglomerate controlled by the powerful Benetton family last week signed a deal with a consortium lead by Italian state lender CDP to sell its 88% stake in Autostrade.<\/p>\n

The agreement will bring 8 billion euros into Atlantia\u2019s coffers next year, ending a dispute prompted by the deadly collapse of a motorway bridge run by Autostrade in 2018.<\/p>\n

In a statement on its future strategy, Atlantia said it could grab opportunities to invest in motorway and airport concessions and mobility infrastructures.<\/p>\n

In addition, some of the proceeds from the Autostrade sale will go to reward investors, it said.<\/p>\n

\u201cThe group is considering the proposal of a share buy-back of between 1 billion and 2 billion euros\u201d to be launched next year, once the sale of Autostrade is completed, it said.<\/p>\n

Shares in the group rose 5.5% at 0845 GMT, outperforming Milan\u2019s blue-chip index, which was flat.<\/p>\n

The dividend policy for the financial years from 2021 to 2023 envisages the distribution of around 600 million euros in the first year, with an estimated annual growth of between 3% and 5% in future years, Atlantia said.<\/p>\n

\u201cThe announcement of the dividend policy and the buy-back are positive news, as they increase visibility regarding shareholder compensation and should encourage a recovery in the stock price,\u201d said broker Bestinver.<\/p>\n

Atlantia will also create a corporate venture capital fund open to new partners.<\/p>\n

($1 = 0.8236 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MILAN (Reuters) – Italy\u2019s Atlantia is considering a share buyback of up to 2 billion euros ($2.4 billion) and the payment of 600 million euros […]<\/p>\n","protected":false},"author":3,"featured_media":116468,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nAtlantia mulls share buyback, dividends after motorway sale - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/atlantia-mulls-share-buyback-dividends-after-motorway-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantia mulls share buyback, dividends after motorway sale - Fin2me\" \/>\n<meta property=\"og:description\" content=\"MILAN (Reuters) – Italy\u2019s Atlantia is considering a share buyback of up to 2 billion euros ($2.4 billion) and the payment of 600 million euros [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/atlantia-mulls-share-buyback-dividends-after-motorway-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-15T10:07:06+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/06\/Atlantia-mulls-share-buyback-dividends-after-motorway-sale.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/atlantia-mulls-share-buyback-dividends-after-motorway-sale\/\",\"url\":\"https:\/\/fin2me.com\/markets\/atlantia-mulls-share-buyback-dividends-after-motorway-sale\/\",\"name\":\"Atlantia mulls share buyback, dividends after motorway sale - 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