Eni: dividend to increase, share buybacks in sight
(CercleFinance.com) - Italian energy group Eni intends to increase its dividend for 2018 by 4%, to 0.
83 euro per share, which will be fully paid in cash, the company said today on the presentation of its 2018-2021 strategic plan.
The four-year investment plan focused on high-value projects with rapid returns, providing for capital expenditure of slightly under 32 billion euros, of which over 80% will be upstream, Eni said.
In 2018, based on a 60-dollar barrel of Brent oil, the company will generate an operating cash flow of over 11 billion euros, a figure that it will increase by over 2 billion euros in 2021, based on the same scenario, it added.
Most importantly, Eni said it would evaluate share buybacks in case its cash exceeds the leverage target of 20%-25%.
All this good news has led to a 1.5% increase in the Eni share to over 14 euros in Milan on Friday afternoon.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
83 euro per share, which will be fully paid in cash, the company said today on the presentation of its 2018-2021 strategic plan.
The four-year investment plan focused on high-value projects with rapid returns, providing for capital expenditure of slightly under 32 billion euros, of which over 80% will be upstream, Eni said.
In 2018, based on a 60-dollar barrel of Brent oil, the company will generate an operating cash flow of over 11 billion euros, a figure that it will increase by over 2 billion euros in 2021, based on the same scenario, it added.
Most importantly, Eni said it would evaluate share buybacks in case its cash exceeds the leverage target of 20%-25%.
All this good news has led to a 1.5% increase in the Eni share to over 14 euros in Milan on Friday afternoon.
Copyright (c) 2018 CercleFinance.com. All rights reserved.