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Buyback · Energy Strategy · Renewables · Shareholder Returns
Eni, the Italian energy major, significantly increased its cash return policy to shareholders, launching a minimum €1.5 billion ($1.72 billion) share buyback for this year and raising its dividend by 5% to €1.10 per share, as reported by Dow Jones.
This move is part of a new strategy through 2030, which also includes plans to lower investment spending and increase production in its core oil-and-gas business. Eni now targets returning between 35% to 45% of operating cash flow to shareholders, an increase from the previous 35% to 40% range.
The company confirmed it will return additional cash when oil, gas, and refining margins exceed expectations. For 2026, the buyback program could expand to a maximum of €4 billion.
Investment spending is projected to average less than €6 billion annually over the 2030 plan, which is €2 billion lower than the prior midterm plan. Eni also announced a deal with Ares Management Corporation for its Plenitude unit, diluting Eni's ownership to approximately 65% and deconsolidating it from financial statements.
This transaction involves a €1.5 billion capital increase, with Ares providing at least €1 billion.
Eni Boosts Shareholder Returns, Launches €1.5B Buyback(current)
