Shareholders’ remuneration

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Shareholders’ remuneration framework

Our distribution policy confirms the progressive growth in shareholder value related to our strategy. Our model is to continue to rank distribution as a top priority through a percentage of operating cashflow – a transparent link to our business performance.

 

Eni enhanced the payout which will target a distribution between 30-35% of expected annual CFFO, compared with the previous 25-30%, by way of a combination of dividend and share buyback.
 

For 2024 Eni announced:

  • an annual dividend of €1.00/share, a 6% increase versus 2023
  • a share buyback programme of €1.1 bln, reflecting the expectations on scenario and the performance of the business.
     

This is a flexible tool, with higher exposure to the upside. In fact, similar to 2023, we can confirm that in lower than planned scenario we will seek business outperformance and use financial flexibility to deliver the target buyback.
 

While, in the case of better than planned CFFO outcomes, we will now allocate up to 60% of incremental cash to our buyback, a material improvement versus last year when we indicated an upside of 35%.

 

2024 Share Buyback Program

The 2024 Buyback Program should commence in May, subject to Annual General Meeting.

Dividend calendar: future dates

The dividend is split into 4 instalments paid every year in March, May, September and November.

The fourth instalment of the dividend for the 2023 financial year will be paid on May 22, 2024 (ex-dividend date: May 20, 2024), by an amount of 0.23€ per share.

Starting from September 2024, the first instalment of the dividend for the 2024 financial year will be paid.

Dividend calendar: latest payments

The total annual dividend for the 2023 fiscal year, divided in 4 tranches, is equal to 0.94€ per share.

The third instalment of the dividend for the 2023 financial year was paid on March 20, 2024 (ex-dividend date: March 18, 2024) by an amount of 0.24€ per share.

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
2023 3rd instalment 18 March 2024  20 March 2024 0.24
2023 2nd instalment 20 November 2023  22 November 2023  0.23
2023 1st instalment 18 September 2023  20 September 2023  0.24
2022 4th instalment 22 May 2023  24 May 2023  0.22
2022 3rd instalment 20 March 2023  22 March 2023 0.22
2022 2nd instalment 21 November 2022  23 November 2022  0.22
2022 1stinstalment 19 September 2022  21 September 2022  0.22
2021 Balance 23 May 2022 25 May 2022 0.43
2021 Interim 20 September 2021  22 September 2021  0.43
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 26 September 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
2010 Interim 19 September2011 22 September 2011 0.52
2010 Balance 23 May 2011 26 May 2011 0.50
2009 Interim 20 September 2010 23 September 2010 0.50
2009 Balance 24 May 2010 27 May 2010 0.50
2008 Interim 21 September 2009 24 September 2009 0.50
2008 Balance 18 May 2009 21 May 2009 0.65
2007 Interim 22 September 2008 25 September 2008 0.65
2007 Balance 19 May 2008 22 May 2008 0.70
2006 Interim 22 October 2007 25 October 2007 0.60
2006 Balance 18 June 2007 21 June 2007 0.65
2005 Interim 23 October 2006 26 October 2006 0.60
2005 Balance 19 June 2006 22 June 2006 0.65
2004 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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