Poste Italiane increases dividend as Q3 results rise

On Wednesday, Poste Italiane Spa reported higher revenue and profits and announced an increased dividend for both its latest quarterly and nine-month periods.

Poste Italiane increases dividend as Q3 results rise

The Rome-based postal service provider posted revenue of €3.06 billion for the third quarter, marking a 9.6% year-over-year increase from €2.80 billion. Net profit jumped 49% to €569 million, compared to €382 million the previous year. The company also declared an interim dividend of 33 euro cents, up from 23.7 cents last year. For the nine months ending September 30, revenue rose 4.8% to €9.23 billion, up from €8.80 billion. Net profit grew at a similar rate, reaching €1.60 billion, compared to €1.52 billion.

Poste hailed "record" results

Poste Italiane celebrated these “record” results, attributing revenue growth to gains across all its divisions. Revenue from Mail, Parcel & Distribution grew 1.5% to €2.80 billion over the nine months, while Financial Services revenue increased 4.9% to €4.05 billion. Insurance Services revenue rose 7.4% to €1.23 billion, and Postepay Services revenue climbed 10% to €1.16 billion.