Ferrari proposes dividend distribution

Ferrari proposes dividend distribution

Italian sports-car maker Ferrari NV said late Friday that its board intends to recommend a dividend distribution of 0.867 euro ($1.05) to holders of common shares.

The total distribution will total about EUR160 million and is conditional on shareholder approval at the annual general meeting, scheduled for April 15, Ferrari said.

In case of approval, the payment date is set for May 5.

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