Ferrari N V Stock Price, News & Analysis

Ferrari N.V. (NYSE/EXM: RACE) has announced the agenda and explanatory notes for its 2023 Annual General Meeting of Shareholders (AGM), scheduled for April 14, 2023, in Amsterdam at 9:00 a.m. CEST. Shareholders can access AGM materials on Ferrari’s corporate website. The prepared materials include audited financial statements, which shareholders can request in hard copy at no charge. This AGM is key for shareholders to engage in discussions regarding Ferrari's performance and future direction.

Ferrari N.V. (NYSE: RACE) has announced a multi-year partnership with Virtual Gaming Worlds (VGW), starting at the first Formula 1 Grand Prix in Bahrain from March 3-5, 2023. VGW will serve as a Premium Partner of Scuderia Ferrari, enhancing the team's engagement with fans through innovative gaming experiences. Lorenzo Giorgetti, Ferrari's Chief Racing Revenue Officer, expressed enthusiasm for the collaboration, highlighting the shared values of innovation and passion. VGW's CEO, Laurence Escalante, noted the significance of Ferrari as an iconic brand in motorsport, recognizing F1's growing popularity, particularly in the US.

Ferrari N.V. (NYSE: RACE) has released its 2022 Annual Report and filed its annual report on Form 20-F with the U.S. Securities and Exchange Commission as of February 24, 2023. The report includes audited financial statements for the fiscal year ending December 31, 2022. Investors can access the report on Ferrari's corporate website under the Investors section, where it is available for viewing and downloading. Hard copies of the materials can be requested by shareholders.

Ferrari N.V. (RACE) announced a proposed dividend of Euro 1.810 per common share, marking a 33% increase from the previous year, amounting to a total distribution of approximately Euro 329 million. This proposal will be presented to shareholders for approval at the Annual General Meeting scheduled for April 14, 2023.

If approved, the ex-date is anticipated on April 24, 2023, the record date on April 25, 2023, and payments will be made on May 5, 2023.

Ferrari N.V. (RACE) has announced the completion of a share buyback as part of its broader program totaling €2 billion by 2026. The recent buyback, announced on December 1, 2022, represents the second tranche of this initiative, amounting to €200 million. The purchases will occur daily and will be executed on Euronext Milan and the New York Stock Exchange. This move aligns with Ferrari's strategy to enhance shareholder value and reflects its ongoing commitment to returning capital to investors.

Ferrari N.V. (NYSE/EXM: RACE) announced the appointment of Lorenzo Giorgetti as Chief Racing Revenue Officer, effective February 7, 2022. Giorgetti, who previously served as Chief Commercial Officer at AC Milan, is recognized for his success in commercial growth within sports. In his new role, he will enhance long-term partnerships with sponsors and engage with Ferrari's global fan community, including entering the Esports sector. CEO Benedetto Vigna expressed optimism about Giorgetti's leadership and experience, highlighting the excitement of developing opportunities together with sponsors and fans.