Back to Dividend Stocks
Terna - Rete Elettrica Nazionale SpA (TRN.MI) logo

Terna - Rete Elettrica Nazionale SpA

EURO STOXX 600
TRN.MI|Utilities|Utilities - Regulated Electric||P/E 18.8|MCap 18.9B|Borsa Italiana

Last update: May 9, 2026 at 09:32

Dividend Safety Rating

76/ 100Safe

TRN.MI's dividend appears safe and well-supported. Strengths include a 74.6% earnings payout ratio & 0.0% fcf payout ratio. Areas of concern: 851.5% cfo payout ratio & 0.9x current ratio. The dividend has been growing at a 9.11% 5-year CAGR. As a utility, higher payout ratios and leverage are typical for this regulated sector.

Based on 15 of 15 metrics

Strengths

  • FCF Payout Ratio: 0.0%Free cash flow comfortably covers the dividend.
  • Operating Margin: 45.0%Healthy operating margin provides a wide buffer.
  • Gross Margin: 97.7%High gross margin signals strong pricing power.

Risks

  • CFO Payout Ratio: 851.5%Operating cash flow leaves little room for the payout.
  • Current Ratio: 0.9xLimited short-term liquidity to meet obligations.

Payout & Coverage

Safe
Earnings Payout Ratio
74.6%Safe
FCF Payout Ratio
0.0%Very Safe
CFO Payout Ratio
851.5%Danger
Interest Coverage
6.5xSafe

Balance Sheet

Caution
Net Debt / Total Assets
42.5%Caution
Current Ratio
0.9xWarning
Debt-to-Equity
199.4Safe

Profitability

Very Safe
Return on Equity
14.5%Safe
Operating Margin
45.0%Very Safe
Gross Margin
97.7%Very Safe
Profit Margin Stability
Very StableVery Safe

Dividend Track Record

Very Safe
Dividend Streak
11+ yrsVery Safe
Dividend Cut
NoneVery Safe
5-Year Dividend CAGR
9.1%Safe
Earnings Stability
GrowingVery Safe

About Terna - Rete Elettrica Nazionale SpA

Terna - Rete Elettrica Nazionale SpA is Italy's leading transmission system operator, managing nearly the entire national high- and extra-high-voltage electricity grid spanning approximately 75,236 kilometers of power lines, 915 substations, and extensive interconnection infrastructure. Headquartered in Rome, the company operates as a natural monopoly regulated by the Italian Authority for Energy, Networks, and the Environment (ARERA), ensuring the balance between electricity supply and demand while dispatching power across the system. Through its core subsidiary Terna Rete Italia, it handles development, operation, and maintenance of the grid, including pioneering projects like the world's longest submarine cables such as SA.PE.I. and innovative HVDC interconnectors linking Italy to Sicily, France, and Tunisia. Terna Plus and Terna Energy Solutions drive non-core activities, offering specialized engineering services, high-voltage plant maintenance, fiber optics, smart grids, and renewable integration solutions to third parties in Italy and internationally in regions like Chile, Peru, and the USA. As Europe's largest independent grid operator and sixth globally by line length, Terna plays a pivotal role in Italy's energy transition, advancing decarbonization, renewable energy integration, and energy security via multi-billion-euro development plans. Listed on Borsa Italiana and part of the FTSE MIB index, it supports over 60 million end-users through robust, technologically advanced infrastructure.

Dividend Overview

Dividend Yield

3.95%

Annual Dividend

€0.40

Frequency

Semi-Annual

Payout Ratio

74.64%

FCF Payout Ratio

0.00%

Stock Price

52-Week Range

€7.69 €10.25

Dividend History (2016–2025)

TRN.MI annual dividend per share and yield history

Earnings & Profitability

TRN.MI earnings per share and net profit margin

Key Dates

Next Ex-Dividend Date

June 22, 2026

Next Payment Date

Dividend Growth

3-Year Dividend CAGR

9.84%

5-Year Dividend CAGR

9.11%

10-Year Dividend CAGR

18.93%

3-Year Total Growth

32.51%

5-Year Total Growth

54.64%

10-Year Total Growth

466.00%

Income Calculator

TRN.MI Dividend Calculator

Total Investment

€0.00

Annual Income

€39.62

Quarterly Income

€9.91

Monthly Income

€3.30

Similar Dividend Stocks

StockYield5Y CAGRPrice
Terna - Rete Elettrica Nazionale SpA (TRN.MI) logo
TRN.MI
3.95%9.11%
A2A S.p.A. (A2A.MI) logo
A2A.MI
4.32%5.23%
Hera S.p.A. (HER.MI) logo
HER.MI
3.85%8.45%
Italgas S.p.A. (IG.MI) logo
IG.MI
3.69%9.66%
Snam S.p.A. (SRG.MI) logo
SRG.MI
4.56%4.10%

Frequently Asked Questions

What is TRN.MI's current dividend yield?
Terna - Rete Elettrica Nazionale SpA (TRN.MI) currently has a dividend yield of 3.95%, based on a stock price of — and an annual dividend of €0.40.
When is TRN.MI's next dividend payment date?
TRN.MI's next ex-dividend date is 2026-06-22 and the next payment date is —. You must own the stock before the ex-dividend date to receive the upcoming payment.
How much does TRN.MI pay in dividends per year?
Terna - Rete Elettrica Nazionale SpA paid €0.40 per share in annual dividends in 2025. The dividends are paid semi-annual.
Has TRN.MI been increasing its dividend?
Terna - Rete Elettrica Nazionale SpA has grown its dividend at a 5-year CAGR of 9.11% and a 10-year CAGR of 18.93%.
Is TRN.MI's dividend safe?
Terna - Rete Elettrica Nazionale SpA has a payout ratio of 74.64%. Its free cash flow payout ratio is 0.00%. The payout ratio is moderate. Monitor earnings to ensure sustainability.
How is TRN.MI's Dividend Safety Rating calculated?
The Dividend Safety Rating evaluates Terna - Rete Elettrica Nazionale SpA's dividend sustainability across four categories: Payout & Coverage (30%), Balance Sheet (20%), Profitability (20%), and Dividend Track Record (30%). Each metric is rated from "Very Safe" to "Danger" based on industry-standard thresholds, with sector-specific adjustments for utilities companies. The overall score ranges from 0 to 100.

Want to understand how we rate dividend safety? Read our full methodology

Track TRN.MI Dividends with OnlyDividends

What will TRN.MI actually pay you after taxes? Track every payout, get notified on payment dates, and stop guessing.

This page is not investment advice. The content is for informational purposes only and should not be construed as a recommendation to buy, sell, or hold any security. Always do your own research and consult a qualified financial advisor before making investment decisions.

Financial data, including dividend history, earnings, balance sheet metrics, and the Dividend Safety Rating, is provided for informational purposes only. Data may be delayed or differ from official filings. Past performance does not guarantee future results. Always verify with official sources before making investment decisions.

Market data provided by Twelve Data.