Ferrari (NYSE/EXM: RACE) announced that all AGM resolutions held on April 15, 2026 were passed. Shareholders approved the 2025 Annual Accounts, the Remuneration Report 2025 and a cash dividend of €3.615 per common share (~€640 million total).
The dividend goes ex-dividend on EXM April 20, 2026 and on NYSE April 21, 2026, with record date April 21, 2026 and payment on May 5, 2026. The AGM re-elected directors, renewed share-issuance and share-repurchase authorizations (repurchase up to 10% for 18 months), cancelled treasury common and special voting shares, and re-appointed Deloitte for 2026.
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AI-generated analysis. Not financial advice.
Positive
Dividend €3.615 per common share (~€640M total)
Share repurchase authorization renewed to repurchase up to 10% for 18 months
Treasury shares cancelled (common and special voting), potentially supporting EPS
Negative
Share issuance delegation renewed, enabling potential dilution over 18 months
Pre-emptive rights may be limited/excluded, increasing issuance flexibility and dilution risk
News Market Reaction – RACE
-0.30%
1 alert
-0.30%News Effect
On the day this news was published, RACE declined 0.30%, reflecting a mild negative market reaction.
Cash dividend per share:€3.615 per common shareTotal dividend:approximately €640 millionMax share repurchase:Up to 10% of common shares+5 more
8 metrics
Cash dividend per share€3.615 per common shareDividend approved at 2026 AGM on 2025 Annual Accounts
Total dividendapproximately €640 millionAggregate cash dividend on outstanding common shares
Max share repurchaseUp to 10% of common sharesBoard authorization renewed for 18 months from AGM date
Authorization duration18 monthsIssuance rights and repurchase authorization from AGM date
Ex-dividend date EXMApril 20, 2026Date common shares trade ex-dividend on Euronext Milan
Ex-dividend date NYSEApril 21, 2026Date common shares trade ex-dividend on NYSE
Dividend payment dateMay 5, 2026Cash dividend payment on outstanding common shares
Dividend coupon number11Coupon number assigned to this dividend distribution
Market Reality Check
Price:$340.23Vol:Volume 430,357 is 0.62x t...
low vol
$340.23Last Close
VolumeVolume 430,357 is 0.62x the 20-day average of 695,217, indicating relatively light trading ahead of the AGM outcomes.low
TechnicalPrice 358.13 is trading below the 200-day MA of 408.61, and sits 31.01% under the 52-week high of 519.0999 and 14.6% above the 52-week low of 312.51.
Peers on Argus
RACE gained 0.84% while peers showed mixed moves: GM +1.06%, F +1.6%, STLA +0.49...
1 Up2 Down
RACE gained 0.84% while peers showed mixed moves: GM +1.06%, F +1.6%, STLA +0.49%, LI +0.59%, HMC -0.17%. Momentum data shows LI and XPEV down around 3% and STLA up about 2.82%, suggesting the AGM-driven headline is more stock-specific than a uniform sector rotation.
Common CatalystOne peer, STLA, reported a Q1 2026 shipment update, indicating fundamental auto news flow but no clear, shared AGM or capital-returns theme across the group.
Ongoing execution of €250m first tranche within €3.5bn program.
Pattern Detected
Recent buyback announcements and updates generally carried positive intent, but share-price reactions were mixed, with more instances of short-term divergence than alignment.
Recent Company History
Over the last month, Ferrari has focused on executing and expanding a multi-year buyback program, with multiple updates between March 16 and April 10, 2026. These reports detailed progress under a €250 million first tranche within a broader €3.5 billion framework and treasury holdings near 9% of issued shares. Price reactions ranged from about -1.1% to +4.62%, showing inconsistent short-term alignment with positive capital-return news. Today’s AGM resolutions on dividends, share issuance, and repurchase authority extend this capital-allocation narrative.
Market Pulse Summary
This announcement formalizes Ferrari’s 2026 AGM outcomes, including approval of the 2025 accounts, a...
Analysis
This announcement formalizes Ferrari’s 2026 AGM outcomes, including approval of the 2025 accounts, a cash dividend of €3.615 per share (around €640 million total), and renewed authority to repurchase up to 10% of common shares over 18 months. It also confirms Board and auditor appointments and the cancellation of treasury and special voting shares. Investors may track execution of repurchases, dividend timelines, and any future use of share-issuance delegations alongside ongoing buyback disclosures.
Key Terms
ex-dividend, record date, special voting shares, independent auditor, +3 more
7 terms
ex-dividendfinancial
"The outstanding common shares will be quoted ex-dividend from April 20, 2026 on EXM..."
Ex-dividend describes a stock trading without the right to receive the next scheduled dividend payment; if you buy the share on or after the ex-dividend date, the upcoming payout goes to the seller instead of you. It matters to investors because the stock price typically adjusts to reflect that lost payout, so understanding the ex-dividend date helps decide whether a trade will capture the dividend and can affect short-term price moves and tax or income strategies.
record datefinancial
"The record date for the dividend will be April 21, 2026 on both EXM and NYSE..."
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.
special voting sharesfinancial
"cancellation of all the special voting shares held by the Company on April 15, 2026."
Shares that carry extra or different voting power than ordinary shares, allowing their holders to control corporate decisions disproportionate to their economic stake. For investors this matters because these shares can concentrate control in the hands of a few — like owning the steering wheel while others own most of the car — which can affect board choices, strategic direction, minority shareholder influence and the value or liquidity of ordinary shares.
independent auditorregulatory
"re-appointed Deloitte Accountants B.V. as the Company’s independent auditor..."
An independent auditor is an outside, qualified accounting professional or firm that examines a company's financial records and controls to determine whether its financial statements are accurate and prepared according to accepted accounting rules. Like a neutral referee or home inspector, the auditor issues a report that gives investors confidence (or raises red flags) about the reliability of the numbers, which affects assessments of risk, valuation and investment decisions.
sustainability assurance providerregulatory
"appointed the same Deloitte Accountants B.V. as the Company’s independent sustainability assurance provider..."
An independent firm that checks and verifies a company's environmental, social and governance (ESG) claims, data and sustainability reports to ensure they are accurate and complete. Think of it as a third‑party fact‑checker or building inspector for nonfinancial performance; investors use their findings to judge whether sustainability commitments are credible, to reduce the risk of greenwashing, and to compare companies more reliably when making investment decisions.
pre-emptive rightsfinancial
"to limit or exclude pre-emptive rights for common shares (for a period of 18 months..."
An investor's pre-emptive rights are the option given to existing shareholders to buy new shares before they are offered to the public or new investors, letting them maintain their percentage ownership and voting power. Think of it like a right of first refusal at a sale: it prevents ownership from being diluted by allowing current holders to keep the same stake, which matters because dilution can reduce influence and the share of future profits.
dividend in cashfinancial
"approved a dividend in cash1 of Euro 3.615 per outstanding common share..."
A dividend in cash is a direct payment of money a company gives to its shareholders from profits or reserves, delivered as a per-share cash amount. It matters to investors because it provides regular income, signals the company's ability to generate and share profits (like a paycheck from ownership), can make a stock more attractive, and reduces the company’s cash balance which may affect future growth and share value.
AI-generated analysis. Not financial advice.
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Maranello (Italy), 15 April 2026 - Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/EXM: RACE) announced today that all resolutions proposed to Shareholders at the Ferrari’s Annual General Meeting of Shareholders (the “AGM”) held today in Amsterdam, the Netherlands, were passed.
The Shareholders approved the 2025 Annual Accounts, expressed a positive advice with respect to the Remuneration Report 2025 and approved a dividend in cash1 of Euro 3.615 per outstanding common share, totalling approximately Euro 640 million. The outstanding common shares will be quoted ex-dividend from April 20, 2026 on EXM and from April 21, 2026 on NYSE. The record date for the dividend will be April 21, 2026 on both EXM and NYSE and the dividend on the outstanding common shares will be paid on May 5, 2026. Shareholders holding the Company’s common shares on the record date that are traded on the NYSE will receive the dividend in U.S. dollars at the official European Central Bank EUR/USD exchange rate of April 16, 2026.
The AGM re-appointed all Ferrari directors standing for election. John Elkann and Benedetto Vigna were re-elected as executive directors of Ferrari. Piero Ferrari, Delphine Arnault, Francesca Bellettini, Eduardo H. Cue, Sergio Duca, John Galantic, Maria Patrizia Grieco, Michelangelo Volpi and Tommaso Ghidini were re-elected as non-executive directors of Ferrari.
The AGM renewed the existing delegations to the Board of Directors of the Company of the authority to issue common shares (for a period of 18 months from the date of the AGM), to grant rights to subscribe for common shares and to limit or exclude pre-emptive rights for common shares (for a period of 18 months from the date of the AGM), subject to certain maximum amount thresholds.
Furthermore, the AGM renewed, for a period of 18 months from the date of the AGM, the existing authorization of the Board of Directors to repurchase up to a maximum of 10% of the Company’s common shares issued as of the date of the AGM. Pursuant to the authorization, which does not entail any obligation for the Company but is designed to provide additional flexibility, the Board of Directors may repurchase common shares in compliance with applicable regulations, subject to certain maximum and minimum price thresholds.
________________________________________ The coupon number of the dividend is 11 (eleven). The AGM also approved the cancellation of all the common shares held by the Company on December 31, 2025 in its own share capital, as well as the cacellation of all the special voting shares held by the Company on April 15, 2026.
The Shareholders re-appointed Deloitte Accountants B.V. as the Company’s independent auditor for the financial year 2026 and appointed the same Deloitte Accountants B.V. as the Company’s independent sustainability assurance provider for the financial year 2026.
The Shareholders further approved the awards of (rights to subscribe for) common shares in the capital of the Company to the executive directors.
This press release contains forward-looking statements. These statements are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: volatility and deterioration of capital and financial markets, including possibility of new Eurozone sovereign debt crisis, changes in commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, weather, floods, earthquakes or other natural disasters, changes in government regulation, production difficulties, including capacity and supply constraints and many other risks and uncertainties, most of which are outside of the Group’s control, including global economic conditions, macro events, pandemics, conflicts, hostilities and scenarios of geopolitical instability.
What dividend did Ferrari (RACE) approve at the April 15, 2026 AGM?
Ferrari approved a cash dividend of €3.615 per common share, totaling approximately €640 million. According to the company, the dividend will be paid on May 5, 2026 to shareholders on the April 21, 2026 record date, with ex-dividend dates on April 20–21, 2026.
When will Ferrari (RACE) trade ex-dividend and when is the dividend paid?
Ferrari shares trade ex-dividend on EXM from April 20, 2026 and on NYSE from April 21, 2026. According to the company, the record date is April 21, 2026 and the cash dividend will be paid on May 5, 2026, with USD conversion for NYSE-traded shares.
What share buyback authority did Ferrari (RACE) obtain at the April 15, 2026 AGM?
The AGM renewed authorization for the Board to repurchase up to 10% of common shares issued as of the AGM date for 18 months. According to the company, repurchases are permitted within regulatory price thresholds and are not an obligation.
Did Ferrari (RACE) approve any share issuance powers that could dilute shareholders?
Yes. Shareholders renewed delegations allowing the Board to issue common shares and grant subscription rights for 18 months, subject to caps. According to the company, these delegations may include limits or exclusions of pre-emptive rights, enabling issuance flexibility.
Which directors were re-elected at Ferrari's (RACE) April 15, 2026 AGM?
All directors standing for election were re-appointed, including executive directors John Elkann and Benedetto Vigna. According to the company, non-executive directors re-elected include Piero Ferrari, Delphine Arnault and others listed by the Board.
What corporate actions regarding treasury and special voting shares did Ferrari (RACE) approve?
The AGM approved cancellation of all common shares held by Ferrari on December 31, 2025 and cancellation of special voting shares held on April 15, 2026. According to the company, these cancellations were adopted alongside other capital authorizations and governance measures.
