The Board of Directors of Eni gave the green light to the consolidated financial statements and draft financial statements for 2020, respectively closed with a net loss of 8,635 billion e a net profit of 1,607 billion. Numbers that confirm the adjusted preliminary results released on February 19th. The reported net loss of the consolidated financial statements is restated at 8,635 million (8,563 billion in the preliminary results) mainly due to the implementation of the result of an investee valued at equity published subsequently.
Furthermore, the BoD will propose to the assembly on May 12 the distribution of a dividend of €0,36 per share, of which 0,12 distributed on account last September. The balance of €0,241 per share will be paid starting May 26, with coupon detachment on May 24, 2021.
Lastly, Eni's Board has decided to propose a transaction to the shareholders' meeting purchase of treasury shares for 18 months. A maximum disbursement of 1.600 million euro is envisaged for a number of shares up to 7%.
The authorization to purchase treasury shares is functional to the possible restart of the buyback program, according to the provisions of Eni's Strategic Plan presented on February 19, 2021. The restart of the buyback plan is aimed at offering the company, adds a note, a flexible option for recognizing shareholders in addition to the distribution of dividends.
Finally Eni, in the context of the investigation relating to some activities of Eni in the Congo which sees the company and one of its managers under investigation, notes with "satisfaction of the decay of this hypothesis of international corruption as well". Following the declassification of the disputed offense by the Public Prosecutor into undue induction, a note informs, Eni has adhered to the hypothesis of an agreed sanction put forward by the Public Prosecutor's Office and has submitted a request for it.
The company will therefore make available a consideration of 11,8 million euros as an agreed sanction. Eni wishes to clarify that the agreement does not represent an admission of guilt by the company with respect to the disputed crime, but an initiative aimed at avoiding the continuation of a judicial process which would involve a new and significant expenditure of resources for Eni and all the parties involved.
