In the financial statements of 2018, Edison Spa reported a loss carried forward for 438 million euros. Therefore, in 2019 there is no distribution of dividends on 2018 figures.


Dividend year20132014201520162017201820192020202120222023
Ordinary shares0.011-------0,0550,0220,1
Saving shares0.050-------0,2850,0520,1
Total dividends paid (€ million)62.5-------285,7107,5358,5


In relation to dividends distribution article 25 of the Bylaws provides the following:

1. The remainder of the earnings shown in the financial statements, after allocating 5% (five percent) to the statutory reserve, which must be set aside until the reserve reaches one-fifth of the share capital, are distributed to the savings shares up to an amount that may not be greater than 5% (five percent) of their par value.
2. If in a given fiscal year the savings shares receive a dividend that is less than 5% (five per cent) of their par value, the difference will be brought forward and added to the preferred dividend over the following 4 (four) fiscal years.
3. If no dividend is distributed to the savings shares for 5 (five) consecutive years, these shares become convertible one for one into common shares, upon a simple request by the shareholder, during the period from January 1 to March 31 of the sixth year.
4. Any remaining earnings that the Shareholders’ Meeting decides to distribute are allocated to all of the shares such that the savings shares receive a total dividend that is greater than the dividend paid to the common shares by 3% (three percent) of their par value.
5. If reserves are distributed, the savings shares have the same rights as the other shares. However, if the company has no earnings in a given year, the benefits granted to the savings shares by Sections 1 and 4 of this Article may be provided by the Shareholders’ Meeting through a resolution approving the distribution of reserves.