Eni Boosts Payout After Profit Doubles
Italian energy group Eni raised its special dividend and share buyback programme after reporting a third-quarter net profit of 2.8 billion euros. The strong financial performance pushed company shares to a near 20-year high.
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ENI SPA raised its special dividend to €1.3 billion and expanded share buybacks after third-quarter net profit more than doubled, pushing shares to a 20-year high. The state-backed producer in Italy posted €2.8 billion in adjusted net profit, beating analyst forecasts of €2.5 billion. The payout surge reflects high energy prices and growing upstream output, boosting investor confidence in European oil majors.
