Eni Shareholders Set for Cash Boost After Earnings Double
By Adam Whittaker
Eni kicked off earnings season for the energy majors with an extraordinary dividend and buyback hike after volume growth, higher prices and exceptional refining margins provided a cash windfall that the Italian company could return to shareholders.
The oil and gas company said Friday that it would pay a one-off dividend of 1.3 billion euros ($1.46 billion) in December, and plans to buy back 3.8 billion euros of shares by the end of 2026.
Oil and gas prices remained elevated over the summer and refining margins jumped to record highs. Eni adopts a flexible distribution policy that sets shareholder returns against financial metrics and the oil-price environment. As more cash than expected has poured into the company, it plans to return more of the upside to shareholders.
Meanwhile, Eni said adjusted earnings before interest and taxes in the third quarter doubled on year to 5.99 billion euros after oil and gas production rose 7% to 1.83 million barrels of oil equivalent a day.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
October 23, 2026 02:31 ET (06:31 GMT)
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