How dividends are distributed: the part of the annual net profit due to shareholders.
Eni’s remuneration policy is based on a progressive dividend paid entirely in cash. For 2017, we confirm our commitment to pay a full cash dividend of €0.8 per share. This level of remuneration was defined with reference to two main parameters.
1. The first aims to ensure the coverage of investments and dividends with cash flow from operations:
2. The second follows a payout ratio (the percentage of profits distributed as dividends) that is sustainable in the long term and in line with profit growth.
Following the financial results achieved for the first half of 2016 and management’s expectations for the full-year results, Eni’s Board of Directors resolved to distribute to Shareholders a 2016 interim dividend of € 0.40 per share with an ex-dividend date of 19 September 2016 with payment on 21 September 2016.
On 13 April 2017, the AGM resolved to allocate the 2016 net profit of €4,521,093,313.31, of which €3,080,637,260.11 remains following the distribution of the 2016 interim dividend of 0.4 euro per share, resolved by the Board of Directors on 15 September 2016, with a final dividend of €0.4 per share therefore resulting in a total dividend (interim + final) of €0.8 per share.
The final dividend for the 2016 fiscal year will be paid on 26 April 2017 (ex-dividend date: 24 April 2017. Record date: 25 April 2017).
The 2017 fiscal year interim dividend will be paid on 20 September 2017 (ex-dividend date: 18 September 2017. Record date: 19 September 2017).
Any amendments to the above calendar will be promptly notified to the market.
1 Dividends do not benefit from any tax credit and, depending on the recipient, are subject to withholding tax as a tax on distribution are partially added to the taxable income.
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