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.
On 12 May 2016 the Ordinary Meeting of Eni’s Shareholders approved the distribution of a €0.80 per share dividend for 2016. In light of 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 an interim dividend for the fiscal year 2016 of € 0.40 per share1 outstanding at the ex-dividend date as of 19 September 2016, paid on 21 September 2016.
The final dividend for the 2016 fiscal year will be paid on April 26, 2017 (ex-dividend date: April 24, 2017; record date: April 25, 2017).
For the 2017 fiscal year the Board of Directors intends to submit a proposal for distributing a dividend of €0.80 per share at the Annual Shareholders’ Meeting convened for April 13, 2017. An interim dividend will be paid on September 20, 2017 (ex-dividend date: September 18, 2017; record date: September 19, 2017).
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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