Italian asset manager Azimut aims to return $1.4 billion to investors by 2027
05/03/2026 13:36
March 5 (Reuters) - Azimut Holding AZMT.MI on Thursday reaffirmed its 2026 profit outlook of 550 million euros ($639 million) and vowed to return around 25% of its market capitalisation to investors through dividends and share buybacks by 2027. The Italian asset manager plans to spin off part of its network of financial advisers into a fintech bank known as TNB this year, after an inspection by the Bank of Italy revealed "shortcomings" at one of its units. It now awaits a regulatory approval for the spin-off before presenting its strategic plan until 2030. The distribution plan equals around 1.2 billion euros ($1.4 billion) at current valuation, LSEG data shows. Full-year total revenue was 1.4 billion euros; recurring revenue grew 9% across core markets. 2025 net profit stood at 525.6 million euros, slightly above a preliminary estimate of 515 million euros. The board will propose a total ordinary dividend of 2 euros per share. It will seek approval for a buyback of around 500 million euros. From 2027, Azimut will transition to a semi-annual dividend distribution schedule. It aims to pay shareholders up to 800 million euros in dividends over 2026 and 2027. It also confirmed its total net inflows target of 10 billion euros for 2026. ($1 = 0.8613 euros) (Reporting by Enrico Sciacovelli, editing by Milla Nissi-Prussak) ((Enrico.Sciacovelli@thomsonreuters.com; +48587720309;))