Billionaire Del Vecchio says Italian companies too focused on dividends
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© Reuters. FILEPHOTO: This photo taken in Rome, February 4, 2016, shows the Luxottica brand in a pair sunglasses. REUTERS/Alessandro Bianchi
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MILAN (Reuters) – Billionaire Leonardo Del Vecchio said Italian companies often favour dividends to growth, daily Il Corriere della Sera quoted him as saying on Tuesday.
He said that today’s dividends often come at the expense companies that are experiencing dimensional growth.
Del Vecchio (86) is the founder and top investor of the Italian merchant bank Mediobanca.
He is third in Italy’s largest insurance company Generali (MI), and earlier this year he voted against Chief Executive Officer Philippe Donnet being reappointed as the head of the company.
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