By Liam Moloney
Eni SpA (E) said Thursday it plans to raise its 2014 dividend by
1.8%, as it aims to offer a progressive payout to shareholders as
part of investor-friendly measures that include a share-buyback
program.
The company estimates it will pay a dividend of 1.12 euros
($1.52) a share on its 2014 earnings, compared with EUR1.10 for
2013, it said at its 2014-2017 strategy presentation in London.
Eni also said it aims to lower capital expenditure in the
four-year plan by 5%, compared with the plan it presented last
year, to EUR54 billion.
It also forecast average annual hydrocarbon output growth of
3.0% in 2013-2017, rising to 4.0% in the 2017-23 period. Eni
expects flat production this year.
It added that it is targeting disposals worth EUR9 billion in
the four-year plan.
Assets that it plans to sell include shares in Italian gas grid
Snam SpA (SRG.MI) and Portuguese energy company GALP Energia SGPS
SA (GALP.LB), as well as some upstream assets, Chief Financial
Officer Massimo Mondazzi said at the presentation.
Write to Liam Moloney at liam.moloney@wsj.com
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