Eni approves special dividend of 0.46 euros, raises buyback to 3.8 billion euros
Key Facts
Eni approved a special dividend of 0.46 euros per share as part of its third-quarter 2026 results announcement, while increasing its share buyback allocation for the year. The company said in its earnings statement that it raised the buyback programme to 3.8 billion euros, up 12% from its previous guidance, expanding shareholder returns through share repurchases alongside cash dividends. The decisions came as adjusted net profit attributable to shareholders rose to 2,801 million euros in the third quarter, according to the company's results table. Adjusted profit in the corresponding period of 2025 was about 1,247 million euros. Adjusted earnings thus increased 125% year-on-year in the third quarter of the current year.
On the operational front, Eni reported 4% growth in hydrocarbon production in the third quarter of 2026 compared with the same period a year earlier. Underlying production growth was 7% year-on-year after adjusting for price effects and portfolio transactions, according to the company's statement. Eni attributed production growth to increased contributions from projects in Congo and Mexico among the operational factors supporting performance during the period. It added that full operations at Siarah also supported quarterly production. The company cited "operational continuity" in describing its operating performance, alongside increased production contributions from those projects.
The third quarter also saw changes to the asset portfolio and the accounting treatment of some businesses, with Plenitude deconsolidated following the establishment of joint control with Ares, according to Eni's statement. In upstream infrastructure assets, the portfolio partnership provided a cash equity contribution received of 1.8 billion euros during the same period. In terms of business performance, the Versalis chemicals business posted a quarterly loss of 0.18 billion euros as margins deteriorated, the company said. Meanwhile, Eni raised its 2026 pro forma adjusted operating profit forecast for its global gas portfolio to about 1.5 billion euros. The company also raised its adjusted operating cash flow forecast for fiscal 2026 to 16.5 billion euros in the guidance accompanying its earnings announcement.
The latest buyback increase follows an earlier expansion of the programme when Eni announced its second-quarter 2026 results. The company then set its share repurchase allocation at 3.4 billion euros, according to that period's earnings statement. Eni had revised its broader shareholder distribution framework at its capital markets update in March 2026, raising the target range to 35–45% of operating cash flow. In that update, it said it was raising the range "from 35–40% previously", a revision that preceded the third-quarter results announcement. The announced ordinary annual dividend for 2026 is about 1.10 euros per share, up 5% from 2025, according to the company's published shareholder distribution policy.
On its results and payments calendar, Eni scheduled its third-quarter results webcast for Friday, 23 October 2026. The conference is scheduled to begin at 14:00 Central European Summer Time, according to its investor results page. For ordinary dividends, the second instalment due to shareholders is 0.27 euros per share, according to the company's distribution policy schedule. Eni set 25 November 2026 as the payment date for this instalment of the ordinary annual dividend. Holders of American depositary receipts are scheduled to receive the special dividend on 8 January 2027, according to the date in the third-quarter earnings statement.