Eni Proposes New EUR2.2 Billion Buyback Program
16 Mars 2023 - 07:37PM
Dow Jones News
By Giulia Petroni
Eni SpA said it would propose at its next shareholders meeting
on May 10 to launch a share-buyback program of 2.2 billion euros
($2.34 billion) for the current year.
The Italian oil-and-gas giant said Thursday that the buyback
amount may be increased up to a total of EUR3.5 billion in case of
higher cash flow from operations.
In February, Eni announced that it aimed to distrubute between
25% and 30% of the annual cash flow from operations through a
combination of dividends and buybacks.
The maximum amount of shares that can be purchased under the
newly announced buyback program is 337 million, or about 10% of
Eni's share capital.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 16, 2023 14:22 ET (18:22 GMT)
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