November 29, 2019 / 11:05 AM / 14 days ago

Italy's Sanlorenzo sees dividend at 30-40% of profits in 2020-21

MILAN, Nov 29 (Reuters) - Italian yacht maker Sanlorenzo will pay a dividend of 30-40% of its profits in 2020 and 2021, the group’s executive chairman said on Friday.

Massimo Perotti added that the funds raised in the company’s initial public offering (IPO) - started on Wednesday - would be used to cut the company’s debt.

The company will grow organically and will look at developing further in areas where sales are still not high, such as North America and the Asia-Pacific region, Perotti told reporters. (Reporting by Elisa Anzolin, editing by Giulia Segreti)

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