Eni SpA Turns To Profit In Q4 On Higher Sales; Maintains Dividend - Quick Facts

(RTTNews) - Italian oil and gas company Eni SpA (E) reported Wednesday that its fourth-quarter group net profit was 340 million euros, compared to loss of 8.72 billion euros a year ago. Net profit per share was 0.09 euros, compared to loss of 2.42 euros last year. Profit per ADR was $0.19, compared to loss of $5.30 a year ago.

Consolidated adjusted net profit was of 459 million euros, with a robust upstream recovery, compared to last year's loss of 301 million euros.

Adjusted operating profit of 1.29 billion euros climbed 103% from the prior year.

Net sales from operations - continuing operations increased to 15.81 billion euros from 15.07 billion euros a year ago.

Further, the company said its Board of Directors intends to submit a proposal for distributing a dividend of 0.80 euros per share for the year, same as last year, at the Annual Shareholders' Meeting convened for April 13, 2017. The final dividend of 0.40 euros per share is payable to shareholders on April 26.

Claudio Descalzi, Eni's Chief Executive Officer, said, "Looking to the future, we are able to reaffirm our progressive remuneration policy, in line with the expected improvement of commodity prices and our own financial performance."