The Board of Directors decided to recommend to the General Shareholders’ Meeting of May 9, 2017, payment of a total gross dividend of €3.45 per share (€ 2.415 net per share).

The dividend for the fiscal year 2016, up 4.5% compared to the dividend for the fiscal year 2015, is in line with the Group’s dividend policy of maintaining a stable to increasing dividend whenever possible and, as far as possible, never reducing it.

Given the interim dividend of €1.32 gross per share (€ 0.924 net per share ) paid on January 18, 2017, the balance of the dividend in respect of 2016, equal to €2.13 gross per share (€ 1,491 net per share ), which will be paid on May 16, 2017, provided prior agreement by General Shareholders Meeting.