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Dividend

Eni’s remuneration policy envisages a progressive cash dividend.

For 2016 the dividend is €0.80 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 $50 per barrel
    • organically (without the contribution of disposals) in 2017 at an oil price scenario of $60 per barrel
    • organically (without the contribution of disposals) in 2018-19 at an oil price scenario below $60 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


Remuneration


In light of the financial results achieved in 2015, the Board of Directors intends to submit a proposal for distributing a dividend of €0.80 per share1 at the Annual Shareholders’ Meeting. Included in this annual payment is €0.40 per share which was paid as interim dividend in September 2015. The balance of €0.40 per share is payable to shareholders on May 25, 2016, the ex-dividend date being May 23, 2016.

Dividend Eni
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 receiver’s 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.
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.
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 (%)
2.9 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 7.6 5.7
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015


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 -33
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Last updated on 08/03/16