(Alliance News) - Iveco Group NV announced on Wednesday that the extraordinary shareholders' meeting, convened for March 25 in Amsterdam, will be asked to approve that the board of directors, subject to the completion of the sale of the Defense business to Leonardo Spa, resolve to distribute an interim extraordinary dividend equal to the net proceeds from the sale.
The estimated extraordinary dividend is expected to be between EUR5.5 and EUR6.0 per ordinary share.
Payment is currently scheduled for April 2026, following the finalization of closing contractual adjustments, in line with the standard ex-dividend date of April 20 as set by the Borsa Italiana Spa calendar.
As the company explained in a statement, as a precaution, should it be anticipated that the sale will not be completed by March 31, 2026, the meeting will be asked to vote on the statutory demerger of Iveco Group, which would entail the transfer of the Defense business to IDV Group NV, a newly established company under Dutch law.
The ordinary shares and special voting shares of IDV Group would be proportionally allocated to existing Iveco Group shareholders as of the effective date of the demerger, with the ordinary shares admitted to listing and trading on Euronext Milan.
"The board of directors reserves the right to remove from the meeting agenda the discussion regarding the distribution of the interim dividend if, prior to the meeting date, it becomes clear that the sale will not be completed by March 31, 2026. Conversely, it reserves the right to remove from the agenda the discussion regarding the demerger if, prior to the meeting date, it becomes clear that the sale has been or will be completed."
By Claudia Cavaliere, Alliance News reporter
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