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Eni’s remuneration policy envisages a progressive cash dividend.

For 2015 the dividend is €0.8 per share. This level has been defined with respect to two key metrics:

  • Ensuring that capital expenditures and dividends are met by operating cash flow:
    - taking into account the contribution of disposals in 2016 at an oil price scenario of $60  per barrel
    - organically (without the contribution of disposals) in 2017 at an oil price scenario of $70  per barrel
  • Ensuring that the long term payout ratio (share of earnings paid out as dividends) is sustainable and in line with adjusted earnings growth


Dividend Eni

In light of the financial results achieved for the first half of 2015 and management’s expectations for the full-year results, Eni’s Board of Directors resolved to distribute to Shareholders an interim dividend for the fiscal year 2015 of €0.40 per each share1 outstanding at the ex-dividend date as of 21 September 2015, payable on 23 September 2015.

1) Dividends are not entitled to tax credit and, depending on the receiver, are subject to a withholding tax on distribution or are partially cumulated to the receivers' taxable income.

Dividend History

Following new Italian tax laws in force from January 1, 2004, dividends do not entitle to a tax credit and are either subject to a withholding tax, or partially cumulated to the receiver's taxable income, depending on the receiver fiscal status.

On ADR payment date, Bank of New York Mellon will pay the dividend less the entire amount of a withholding tax under Italian law (currently 27%) to all Depository Trust Company Participants, representing payment of Eni SpA's interim dividend.

Methodological note:
On June 1, 2001 Eni Shareholders' Meeting resolved to convert the nominal value of Eni shares into euro and to group two shares of nominal value 0.5 euro into one share with nominal value one euro. In order to make an homogeneous comparison possible, data presented in the tables of this page were calculated assuming that the above mentioned grouping occurred starting from the first year of each table.

Dividend Yield - Dividend/price ratio
Corresponds to the ratio between the dividend and the share price.
The values shown have been calculated using the following methodology:
value of the dividend per share in relation to the average closing price in the month of December of the year to which the dividend refers.
e.g.: Dividend yield 2002 = euro 0.75 (dividend for 2002 distributed in June 2003) / euro 14.42 (average share price in December 2002)
The dividend yield is used as an indicator of the return of the share excluding capital account gains/losses.
It should not be seen as a forecasted return in that it takes account of the dividend of each year.

Dividend Yield - Dividend/price ratio
Dividend Yield (%)
3.4 3.2 5.6 5.2 5.1 4.9 4.7 5.0 5.3 7.6 5.8 6.1 6.6 5.9 6.5 6.5 7.6
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2013 2014

Dividend Pay Out Ratio
This is the ratio between the total dividend distributed and the profit for the period.

Dividend Pay Out Ratio
Pay Out (%)
53.2 50.6 28.8 37 62 51 48 46 50 47 53 81 57 55 50 77 311
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Last updated on 18/09/15