Shareholders and financial community
Guidelines
- Transparency and consistency in information disclosure towards market;
- Protection of minority shareholders.
Features of the shareholder
The breakdown of IGD's shareholders shows 55% of capital held by the two majority shareholders, Coop Adriatica and Unicoop Tirreno. Another distinctive feature of the IGD's shareholder is the presence of more than 150 institutional investors, around 83% foreign.
| Coop Adriatica Scarl | 128,329,438 | 41.50% |
|---|---|---|
| Unicoop Tirreno | 42,186,691 | 13.64% |
| IGD's treasury shares | 10,976,592 | 3.55% |
| European Investors Inc. | 15,162,491 | 4.90% |
| Axa Investment Managers S.A. | 6,200,448 | 2.01% |
| Free float | 101,223,982 | 33.94% |
| Total n° of shares | 309,249,261 | 100.000% |
The peculiarity of the SIIQ regime
Thanks to the strong concentration of its activities in the business of renting, in 2008 IGD could take the form of tax SIIQ, involving the IRES and IRAP exemption of business income and value of production resulting from rental, a status which then constantly maintained.
For IGD's shareholders, this makes the distribution required in the form of dividends, at least 85% of distributable profits deriving from exempt operations.
| 2010 | 2009 | 2008 | |
|---|---|---|---|
| Dividend per share (€ cent) | 0.075 | 0.050 | 0.035 |
| Dividend yield (%) | 5.14% | 3.21% | 3.35% |
| Total dividends distributed (€ million) | 22.37 | 14.91 | 10.44 |
Relations with financial community
During 2010 the IGD stock has been covered by 9 broker, as in 2009.
The Company has intensified its activities for the presentation and meeting with investors, particularly abroad, and maintained an open and constructive dialogue with all stakeholders of the financial market.
In the relationship with financers IGD delivered on its commitment made in the Strategic Plan not to exceed the threshold of gearing of 1.5 and was able to keep the cost of debt stable at very low levels.
| 2010 | 2009 | |
|---|---|---|
| Gearing ratio | 1.31 | 1.37 |
| Average cost of debt | 3.53% | 3.53% |



