Eni's Board Authorizes Distribution of 2008 Interim Dividend
At a meeting today, Eni's Board of Directors authorized the distribution of an interim dividend for the fiscal year 2008 of €0.65 per share (up from €0.60 in 2007) on shares outstanding at the coupon tear-off date (September 22, 2008), The dividend will be payable from September 25, 2008, as was announced to the market on July 31 when the Company published its second quarter results.
Holders of ADRs will receive €1.30 per ADR, being each ADR listed on the New York Stock Exchange representative of two Eni shares, payable on October 2, 2008, being September 24, 2008 the record date . Eni's independent auditors have issued their opinion pursuant to art. 2433-bis, paragraph 5, of the Italian Civil Code.
Consistent with Eni's long-standing commitment to sustainability and corporate social responsibility, the Board of Directors also decided to provide the Eni Foundation with funds for payment of a contribution up to a maximum of €200 million to the solidarity fund set up under art. 81, paragraph 29, of decree law no. 112/2008. The contribution will be paid under the terms of a convention signed by the Ministry of the Economy, Eni and the Eni Foundation and will be used to subsidise the gas bills of less affluent citizens who will benefit from the solidarity fund.
The Directors also approved the issue of one or more bonds for an overall maximum amount of €3 billion, in one or more tranches, by September 11, 2009. The bonds will enable Eni to achieve a better balance between its short-term and medium/long-term debt. They will be listed on regulated markets.
Operates 11 Offshore Rigs
- BSEE: Italy's Eni Begins Drilling Oil Well In Alaska's Beaufort Sea (Dec 27)
- Eni 'Mission Impossible' Points to Seismic Shift for Big Oil (Dec 22)
- Sanction-Proof Oil Rig Beats US Policy From Cuba to Russia (Dec 19)