Eni Plans $1.2 Billion Buyback, Higher Dividend as It Reduces Investment
Provided by
Dow Jones
By Adria Calatayud
Eni said it would launch a share buyback of 1.1 billion euros ($1.20 billion) and an increased dividend for this year and outlined plans to reduce investment through 2027.
The Italian energy giant said it expects overall net capital expenditure over the 2024-27 period to amount to EUR27 billion, which compares with EUR37 billion for the 2023-26 plan it presented last year.
The company said it is targeting corporate cost savings of EUR1.8 billion over the four-year plan.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
March 14, 2024 09:27 ET (13:27 GMT)
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