ROME, Feb. 27 (Xinhua) -- Italian energy giant Eni announced plans on Thursday to boost shareholder returns and expand its energy production capacity as part of its latest capital markets update.
Covering the period through 2028, the update includes a share buyback program ranging from 1.5 billion to 3.5 billion euros (1.56-3.64 billion U.S. dollars) this year. In addition, Eni plans to raise its dividend by 5 percent.
The measures are expected to increase the proportion of the company's cash flow returned to shareholders to between 35 and 40 percent, up from the previous range of 30 to 35 percent.
Eni also outlined plans to expand the renewable energy capacity of its subsidiary, Plenitude, to 15 gigawatts by 2030 - a fourfold increase. Meanwhile, the company's total energy production, spanning both renewable and traditional sources, is projected to grow at an annual rate of 3 to 4 percent through at least 2028. (1 euro = 1.04 U.S. dollar)
