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Shareholders’ remuneration

2021 Shareholders’ Remuneration

Based on the shareholder remuneration policy approved on February 18, 2021, we set a Brent reference price of 65 $/bbl. In order to define our price deck we took into account the actual price to date, the expected trend, market fundamentals and the prospects of the oil market. 

We will distribute a dividend of 0.86 €/share, more than doubling the size of our 2020 dividend and recovering the pre-COVID level. In line with our policy, half of the dividend will be paid in September, and the remaining in May 2022.

Moreover, we will start in Q3 a buy-back of 400 Million € that we are executing  over 6 months.

2021 Remuneration

Eni’s remuneration policy is structured on two elements:

  • fixed component (floor dividend) of 0.36 euro/share anchored at a certain Brent price level that will be revised with the execution of the plan;
  •  a variable component characterized by:
      A)   a progressive dividend according to the price increase,
      B)   the re-start of buyback above a certain price threshold. 

The new policy approved by Eni Board is structured as follows:  

  • the dividend floor will be secured at a Brent price of 43 $/bbl, two dollars lower than the previous level
  • the variable component will grow with the same progression that we presented last summer, calculated as a percentage between 30 and 45% of the incremental Free Cash Flow generated by a scenario between 43 $/bbl and 65 $/bbl
  • the restart the share buyback at a level of Brent price of 56 $/bbl with a value of 300 Mln euro per year. This amount will rise to 400 Mln euro per year from $61 $/bbl and to 800 Mln euro per year from 66 $/bbl onward, as originally planned.

The total payment (floor + variable) will be split 50/50 between the traditional dual tranches of payment in September and May.

Price deck for the dividend and the buyback announced in July, during the traditional half year presentation. 

The table below shows the improvement in the 2021 remuneration policy compared to last year.

Dividend calendar: latest payments

The dividend for the 2020 fiscal year (interim + final) for a total amount of  0.36 € per share was paid on:

  • September 23, 2020:  interim dividend 2020 of 0.12 per share with ex-dividend date on September 21, 2020 and record date on September 22, 2020.
  • May 26, 2021: final dividend 2020 of 0.24 per share with ex-dividend date on May 24, 2021 and record date on May 25, 2021.

Calculate the dividend with our Investor tool

Dividend calendar: future dates

The interim dividend for the 2021 financial year will be paid on September 22, 2021, with ex-dividend date on September 20, 2021 and record date on September 21, 2021.

Dividend Yield

This is the ratio between the dividend and the share price. The following methodology was used for the calculation of values: value of dividend in relation to the average of closing prices in the December of the year to which the dividend pertains. For example: 2014 dividend yield = €1.12 (2014 dividend distributed with an interim dividend in September 2014 and the balance in May 2015)/€14.72 (average share price in December 2014). The dividend yield is used as an indicator of the return regardless of gains/losses. It should not be considered as an expected return as it takes into account the dividend for each year.

Dividend history

Year Ex-Date Payment Date Amount
Lire
2020 Balance 24 May 2021 26 May 2021 0.24
2020 Interim 21 September 2020 23 September 2020 0.12
2019 Balance 18 May 2020 20 May 2020 0.43
2019 Interim 23 September 2019 25 September 2019 0.43
2018 Balance 20 May 2019 22 May 2019 0.41
2018 Interim 24 September 2018 26 September 2018 0.42
2017 Balance 21 May 2018 23 May 2018 0.40
2017 Interim 18 September 2017 20 September 2017 0.40
2016 Balance 24-apr-17 26-apr-17 0.40
2016 Interim 19 September 2016 21 September 2016 0.40
2015 Balance 23 May 2016 25 May 2016 0.40
2015 Interim 21 September 2015 23 September 2015 0.40
2014 Balance 18 May 2015 20 May 2015 0.56
2014 Interim 22 September 2014 25 September 2014 0.56
2013 Balance 19 May 2014 22 May 2014 0.55
2013 Interim 23 September 2013 26September 2013 0.55
2012 Balance 20 May 2013 23 May 2013 0.54
2012 Interim 24 September 2012 27 September 2012 0.54
2011 Balance 21 May 2012 24 May 2012 0.52
2011 Interim 19 September2011 22 September2011 0.52
2010 Balance 23 May 2011 26 May 2011 0.50
2010 Interim 20 September 2010 23 September 2010 0.50
2009 Balance 24 May 2010 27 May 2010 0.50
2009 Interim 21 September 2009 24 September 2009 0.50
2008 Balance 18 May 2009 21 May 2009 0.65
2008 Interim 22 September 2008 25 September 2008 0.65
2007 Balance 19 May 2008 22 May 2008 0.70
2007 Interim 22 October 2007 25 October 2007 0.60
2006 Balance 18 June 2007 21 June 2007 0.65
2006 Interim 23 October 2006 26 October 2006 0.60
2005 Balance 19 June 2006 22 June 2006 0.65
2005 Interim 24 October 2005 27 October 2005 0.45
2004 Balance 20 June 2005 23 June 2005 0.90
2003 Balance 21 June 2004 24 June 2004 0.75
2002 Balance 23 June 2003 26 June 2003 0.75
2001 Balance 24 June 2002 27 June 2002 0.75
2000* Balance 18 June 2001 21 June 2001 0.424 820
1999 Balance 19 June 2000 22 June 2000 0.362 700
1998 Balance 21 June 1999 28 June 1999 0.310 600
1997 Balance 22 June 1998 22 June 1998 0.289 560
1996 Balance 23 June 1997 23 June 1997 0.248 480
1995 Balance 24 June 1996 24 June 1996 0.222 430

* 1 euro = 1936.27 lire

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