Generali Posts Drop In Full-Year Net Profit, Plans To Lift Dividend
Assicurazioni Generali SpA (OTC: ARZGY) reported a 13% decline in its net profit for the year and lifted its dividend payment for 2014.
The company's net profit for the year slipped to EUR1.67 billion, versus a year-ago profit of EUR1.92 billion. Earnings per share fell to 1.07 euro, from 1.24 euro.
Full-year earnings before taxes climbed to 2.95 billion euros, up from 2.41 billion euros.
Net profit for the fourth quarter fell 75% to EUR81 million.
Net earned premiums surged to 64.32 billion euros, from 60.62 billion euros last year.
Generali announced its plans to pay a dividend of EUR0.60 ($0.63) per share for 2014, versus EUR0.45 for 2013.
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