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Dividend

Our oil price assumption is $65 a barrel for each of the four years between 2010 and 2013. Under this scenario, we will maintain our dividend at €1 per share in 2010. Starting in 2011 we will grow our dividend in line with OECD inflation.

*In light of the financial results achieved for the first half of 2010 and management’s expectations for the full-year results, the interim dividend proposal to the Board of Directors on 9 September 2010 will amount to €0.50 per share (€0.50 per share in 2009). The interim dividend is payable on 23 September 2010 to shareholders on the register on 20 September 2010.

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, JPMorgan Chase Bank, N.A. 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.

* Average calculated on the followings Oil & Gas Companies: BP, Chevron, ConocoPhillips, Exxon Mobil, Royal Dutch Shell and Total.

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