Eni: beats forecasts, raises dividend
(CercleFinance.com) - Italian oil and gas group Eni said that higher oil prices have helped it beat its earnings forecasts for the fourt quarter.
Adjusted net profit in the final quarter came in at 1.46 billion euros, up 55% year-on-year, the company said. In comparison, analysts had forecast 1.19 billion euros.
The beat was helped by a slightly lower tax rate in the quarter, analysts at Berenberg noted in a report issued this morning.
Eni said it would propose a dividend of 0.83 euro per share on 2018 results, up from 0.80 euro for 2017.
The group said it will unveil its outlook and financial and operational targets for the period 2019-2022 at a strategy presentation on 15 March.
Pending this meeting, the Eni shares are currently trading up 0.8% in Milan this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Adjusted net profit in the final quarter came in at 1.46 billion euros, up 55% year-on-year, the company said. In comparison, analysts had forecast 1.19 billion euros.
The beat was helped by a slightly lower tax rate in the quarter, analysts at Berenberg noted in a report issued this morning.
Eni said it would propose a dividend of 0.83 euro per share on 2018 results, up from 0.80 euro for 2017.
The group said it will unveil its outlook and financial and operational targets for the period 2019-2022 at a strategy presentation on 15 March.
Pending this meeting, the Eni shares are currently trading up 0.8% in Milan this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.