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Eni Raises Dividend, Production Targets

Posted by March 16, 2018

Italian oil and gas group Eni raised its dividend on Friday and held out the promise of a share buyback as it ramped up production and cash flow targets.
 
In its 2018-2021 plan, the major said it would pay a dividend this year of 0.83 euros per share compared to 0.80 euros on last year's results.
 
It also said a share buyback remained an option to distribute excess cash versus a leverage target of 0.20-0.25. Oil and gas output over the period will grow an average of 3.5 percent per year compared to the 3 percent target in the previous plan.
 

Investments will be flat on the previous plan at less than 32 billion euros ($39.44 billion).

 

Reporting by Giancarlo Navach and Stephen Jewkes 

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