ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

ENI Eni Spa

14.648
0.078 (0.54%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Eni Spa BIT:ENI Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.078 0.54% 14.648 14.62 14.70 14.724 14.564 14.634 7,158,424 17:00:00

Eni to Merge Renewables, Retail Businesses; Sets New Dividend Floor

19/02/2021 2:16pm

Dow Jones News


Eni (BIT:ENI)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Eni Charts.

By Giulia Petroni

 

Eni SpA on Friday unveiled its strategic plan for 2021-24 period, including the merger of its renewable and retail businesses and a rebased dividend policy.

The Italian oil-and-gas major said it would combine its renewable and retail business, planning to reach a customer base of 15 million clients and a renewable installed capacity of 15 gigawatts by 2030. The overall investment for the business will be four billion euros ($4.83 billion) during the 2021-2024 period.

The new segment is expected to increase adjusted earnings before interest, taxes, depreciation and amortization to almost EUR1 billion in 2024 from EUR600 million in 2021.

Eni said it has committed to becoming carbon neutral by 2050 and sees its renewables capacity increasing to 60 gigawatts in the next three decades. It added that gas will represent more than 90% of its production in the long term, supporting its transition away from fossil fuels.

Eni set a dividend floor of EUR0.36 a share with oil prices at $43 a barrel, from the previous level of $45 a barrel. It added it will restart a share buyback of EUR300 million a year in a Brent crude environment of $56 a barrel, EUR400 million from $61 a barrel and EUR800 million from $66 a barrel.

The company said production will grow at an average of about 4% a year during the plan, while upstream capex will amount to about EUR4.5 billion per year on average. Annual average capital expenditure for the group will be around EUR7 billion.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

February 19, 2021 09:01 ET (14:01 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Eni Chart

1 Year Eni Chart

1 Month Eni Chart

1 Month Eni Chart

Your Recent History

Delayed Upgrade Clock