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ENI Eni Spa

0.222 (1.48%)
22 Sep 2023 - Closed
Delayed by 15 minutes

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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
  0.222 1.48% 15.238 15.15 15.30 15.296 14.976 15.01 15,175,462 17:00:00

Trending: Eni Posts Lower 4Q Profit, Shares New Shareholder Remuneration Policy

23/02/2023 6:16pm

Dow Jones News

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From Sep 2022 to Sep 2023

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1746 GMT - Eni SpA is among the most mentioned topics across news items over the past 12 hours, according to Factiva data, after it posted results for the fourth quarter and a new shareholder remuneration plan as part of a new strategy until 2026. The Italian oil-and-gas major booked a quarterly net profit of 550 million euros ($583.4 million), down from EUR3.52 billion in the year-earlier period. The result was affected by fair-valued commodity derivatives, asset impairments and extraordinary, solidarity tax contributions. On an adjusted basis, net profit was EUR2.50 billion, the company said. Separately, Eni unveiled a plan to simplify its shareholder remuneration policy as part of a strategy from 2023 to 2026, and raised the dividend for the current year by 7% to EUR0.94 a share. Eni said it aims to distribute between 25%-30% of annual cash flow from operations through a combination of dividend and share buyback. Analysts at RBC Capital Markets say in a note that Eni's updated corporate plans look weaker than expected, given a higher capex run-rate relative to consensus while volume targets look broadly in line. "The simplification of the distribution policy, while expected, should be taken well, although we believe some investors had expected a higher payout ratio," the analysts say. Dow Jones & Co. owns Factiva. (cecilia.butini@wsj.com)


(END) Dow Jones Newswires

February 23, 2023 13:01 ET (18:01 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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