Eni Launches New Share Buyback Program
Portfolio Pulse from Charles Gross
Eni has announced the launch of the first tranche of its new share buyback program, authorized by the Shareholders' Meeting on May 15, 2024. The program will involve up to 6.4 million shares, worth a maximum of €150 million, to support the 2024-2026 Employee Stock Ownership Plan.
May 23, 2024 | 10:33 am
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Eni has initiated the first tranche of its new share buyback program, which will involve up to 6.4 million shares worth a maximum of €150 million. This move is aimed at supporting the 2024-2026 Employee Stock Ownership Plan.
The share buyback program is likely to have a positive short-term impact on Eni's stock price as it reduces the number of shares outstanding, potentially increasing earnings per share and signaling confidence in the company's future prospects.
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