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Generali ready to pay dividends on future results

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Generali’s chief executive, Giovanni Perissinotto, said Friday that the company is ready to pay a dividend on future results, reiterating that the payout ratio target is between 40%-45%.

Speaking during a conference call to present the insurer’s third-quarter results, Perissonotto said that a decision on the dividend will be taken next year at a board meeting to approve full-year results.

Generali’s board, whose mandate is set to expire in April 2010, is going to meet in March to approve its full-year results.

Generali’s chief financial officer, Raffaele Agrusti, said that the capital gain from the sale of the stake Generali held at Intesa Vita, the bancassurance joint venture with Intesa Sanpaolo that was dissolved earlier this year, is somewhere between EUR50 million and EUR60 million.