Extraordinary dividend - Example n.1
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Amendment of the payment policy in the course of the year, with payment of a dividend advance based on the results of the current financial year.
Overview of the operation
On July 31st 2005, the company Alpha informs that the Board has agreed to pay an advance on the dividend for 2005 equal to 0.50 euro per share to be distributed in December.
Impact on Alpha’s stock options and stock futures
The company has amended its dividend payment policy in the course of the year and deliberated the distribution of an advance on dividend. The remaining part of the dividend will be distributed in the following year. Borsa Italiana will consider this payment as ordinary, despite not being included in the payment policy communicated by the company in accordance with art. 2, section IA.2.1, item IA.2 of the Instructions, because the time period between the communication of the payment date and the actual payment of the dividend is longer than three months.
