MILAN (Reuters) – Italian energy group Eni said it would increase its distribution policy to between 30% and 35% of its cash flow from operations (CFFO) as it expects 8 billion euros ($8.74 billion)in net proceeds from asset portfolio management in the 2024-27 period.
The group will raise dividends on 2024 results by over 6% to 1 euro per share and buy back shares worth 1.1 billion euros.
Opening its investor day on Thursday, the group said its overall net capital expenditure would amount to 27 billion euros over the period, equal to an annual average of 7 billion euros, 20% less than in the previous plan.
($1 = 0.9150 euros)
(Reporting by Francesca Landini, editing by Gavin Jones)
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