Eni Profit Surges, But Investors Won’t Get Extra Returns
- Dividend is rising, however peers have offered additional cash
- Company has delivered a buyback program it started in August
The Eni SpA headquarters in Rome, Italy.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Eni SpA reported fourth-quarter net income returned to pre-Covid levels after oil and gas prices soared, but shareholders won’t get additional returns just yet.
The results show how far the Italian company has come after it slashed dividends and production forecast less than two years ago when the pandemic devastated earnings. Eni’s dividend is rising according to its policy, but investors could be looking for more after almost every major energy producer offered greater returns than already promised.