San Donato Milanese, 15 March 2012 – Today, the Board of Directors approved Eni's consolidated financial statements and the draft financial statements of the parent company for the year ended on 31 December 2011. As announced on 15 February 20121, with respect to Eni's preliminary results, consolidated net profit amounted to €6,860 million and net profit of the parent company amounted to €4,213 million.
The Board of Directors intends to submit a proposal for the distribution of a cash dividend of €1.04 per share (€2.08 per ADR) at the Annual Shareholders' Meeting. Included in this annual distribution is €0.522 per share which was paid as an interim dividend in September 2011. The balance of €0.52 per share (€1.04 per ADR) is payable to shareholders on 24 May 2012, the ex-dividend date being 21 May 2012.
The review of sustainability performance in 2011 has been included in the Annual Report to provide a comprehensive insight into the Company's business model by highlighting the connections existing between the financial and sustainability constituents of the Company's strategies and results. The information has been integrated into management's operating and financial review of the 2011 Annual Report and by complementing the financial statements through inclusion of the consolidated sustainability statement. Eni is engaged in the integrated reporting process, through the participation in the Pilot Program launched by the International Integrated Reporting Committee.
The 2011 Annual Report was submitted to the Board of Statutory Auditors and Eni's independent auditors. In accordance with the provisions of the Legislative Decree No.58/98 (the Italian comprehensive code for exchanges and securities), the 2011 Annual Report will be made available to the public by 5 April 2012 at the Company's headquarters and on Eni's website eni.com and through other modalities provided by the regulation in force, together with statutory and independent auditors' reports.
Enclosed are the 2011 IFRS consolidated statements of Eni's group of companies as included in the approved Annual Report and the statements of the parent company Eni SpA.
The Board of Directors also approved the Report on Corporate Governance and Shareholding Structure and the Remuneration Report which have been prepared in accordance to article No. 123-bis and ter of the Italian comprehensive code for exchanges and securities, respectively. These reports will be filed with the Italian Exchange Authority and published on Eni's website, in the "Corporate Governance" and "Investor Relations" section, together with the 2011 Annual Report.
(1) The press release on Eni's preliminary results for the year 2011, published on 15 February 2012, is available on Eni's website, eni.com, section Investor Relations.
(2) 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.
Convening of the Annual Shareholders' Meeting on 30 April and 8 May 2012 and of extraordinary Shareholders' Meeting on 30 April, 7 May and 8 May 2012
The Board of Directors convened the Annual Shareholders' Meeting on 30 April and 8 May 2012, on first and second call respectively, to approve the 2011 financial statements of the parent company and the dividend proposal. The Annual Shareholders' Meeting was also convened to express its consultative vote about the remuneration policy that the Company intends to adopt in 2012 as disclosed in first section of the Remuneration Report. Finally, the Board of Directors has called an extraordinary Shareholders' Meeting on 30 April, 7 May and 8 May 2012, on first, second and third call respectively, to approve certain changes in Eni's by-laws required to incorporate some of the regulatory changes introduced by Law No.120 of 12 July 2011 related to gender parity in administration and control bodies of listed companies.
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Eni's Chief Financial Officer, Alessandro Bernini, in his capacity as manager responsible for the preparation of the Company's financial reports, certifies pursuant to rule 154-bis paragraph 2 of Legislative Decree No. 58/1998, that the data and information disclosed in this press release correspond to the Company's evidence and accounting books and entries.
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Società per Azioni Roma, Piazzale Enrico Mattei, 1
Share capital: €4,005,358,876 fully paid
Tax identification number 00484960588
Tel.: +39-0659821 – Fax: +39-0659822141
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This press release is also available on the Eni web site eni.com.