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Mediobanca raises dividend after posting record yearly revenues
August 4, 2017 / 5:10 AM / 2 months ago

Mediobanca raises dividend after posting record yearly revenues

MILAN, Aug 4 (Reuters) - Italy’s Mediobanca raised its dividend on Friday after posting record-breaking annual revenues and beating profit expectations.

Revenues in the financial year to June rose 7 percent to 2.196 billion euros ($2.6 billion), boosted by its wealth management business and fees.

The bank said its net profit in the year rose 24 percent to 750 million euros, above an analyst consensus provided by the bank of 720 million euros.

The investment bank said it would pay a dividend of 0.37 euros per share, 37 percent higher than the previous year. ($1 = 0.8418 euros) (Reporting by Stephen Jewkes; editing by Agnieszka Flak)

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