Ferrari N V Stock Price, News & Analysis

Ferrari N.V. (NYSE/MTA: RACE) held its Annual General Meeting (AGM) on April 15, 2021, successfully passing all proposed resolutions. Shareholders approved the 2020 Annual Accounts and a cash dividend of €0.867 per share, totaling approximately €160 million, with ex-dividend date set for April 19, 2021. Additionally, John Elkann and the current board were re-elected, and Ernst & Young was appointed as the independent auditor until 2022. The AGM also renewed the authority for share issuance and repurchase, along with approving executive awards under a new equity incentive plan.

Ferrari N.V. (NYSE: RACE) has announced the restart of its share repurchase program with a fourth tranche of up to €150 million, effective March 12, 2021, until September 30, 2021. The program includes a €120 million execution on the MTA market and €30 million on the NYSE. Since its inception in 2018, Ferrari has repurchased 3,809,334 shares for approximately €513 million. Currently, the company holds 9,175,609 shares in treasury. This move is part of a strategic plan to enhance shareholder value amidst ongoing market fluctuations.

Ferrari N.V. (NYSE/MTA: RACE) has announced its 2021 Annual General Meeting (AGM) to be held virtually on April 15, 2021, at 12:00 p.m. CEST due to the ongoing Covid-19 pandemic. Shareholders will not be permitted to attend in person. The company has made the meeting agenda, explanatory notes, and other materials available on its corporate website, allowing shareholders to vote and submit questions remotely. Hard copies of the audited financial statements can be requested free of charge.

Ferrari N.V. (NYSE: RACE) has published its 2020 Annual Report and filed its annual report on Form 20-F with the US SEC, reflecting financial results for the fiscal year ending December 31, 2020. The reports are available on Ferrari’s corporate website under the Investors section, allowing shareholders to download and view the audited financial statements. Hard copies can be requested free of charge. For inquiries, Ferrari’s media relations can be contacted via phone or email.

Ferrari N.V. (NYSE: RACE) announced a proposed dividend of Euro 0.867 per common share, totaling approximately Euro 160 million. This recommendation will be presented to shareholders at the Annual General Meeting on April 15, 2021. If approved, the ex-date is expected on April 19, 2021, with the record date on April 20, 2021, and payment scheduled for May 5, 2021.

Ferrari N.V. (NYSE: RACE) has entered a multi-year partnership with Richard Mille, designating the Swiss luxury watch brand as a sponsor and licensee for the Prancing Horse. This collaboration will enhance Ferrari's exposure in motorsport, as Richard Mille will be featured on team cars and helmets, starting in the next F1 season. Additionally, the partnership includes supporting Ferrari's various motorsport activities and developing a limited edition watch collection, showcasing both brands' technological prowess and style.