TTFNF - The Nest Egg Portfolio: Adding Italgas As A Resilient Gas Distribution Company

• I added Italgas to the portfolio as I like the resilient cash flows which are used to invest in additional growth in Italy.
• The company's dividend policy is promising to payout 65% of the adjusted net income, but there's a floor.
• Based on that floor the 2023 dividend payment will increase to at least 0.30 EUR for a 5.5% dividend yield.
• The portfolio has finally caught up after a difficult 2020 and is showing a positive performance again.
• There still is a gap to close with the benchmark (Stoxx Euro 600) and I will strive to close this gap in 2021.

For further details see: