RACE
Same board, fatter payout
Ferrari’s annual meeting was basically a very fancy thumbs-up: shareholders re-elected the full slate of nominated directors and approved a dividend of EUR3.615 per share. That’s about 21% higher than last year, with the total cash payout landing around EUR640 million.
Why investors should care
A higher dividend is Ferrari’s way of saying the cash engine is still humming. If you own the stock, you’re getting a bigger check. If you’re watching the business, it’s another reminder that Ferrari is still playing the rare-car luxury game, not the volume-at-all-costs game.
No drama at the top
John Elkann and Benedetto Vigna were re-elected as executive directors, while the rest of the board also got another lap. In other words: no boardroom soap opera, no surprise shake-up, just the corporate equivalent of keeping the same lineup after a winning season.
The market’s tiny shrug
Shares still slipped 0.9% on the day, because markets love to act like they’ve seen it all. But the bigger story is simple: Ferrari is returning more cash to shareholders while keeping governance steady.
Big picture: for a company that sells aspiration on four wheels, a bigger dividend is a nice reminder that the fantasy comes with real-world cash flow.