It is difficult to get a clear message from management, but we believe it is saying that Eni can withstand the current turmoil and let the leverage increase in order to fulfill the dividend as long as a recovery is foreseeable in H2. Q2 will be critical as the lockdown exit will dictate further steps.
24 Apr 2020
Q1: more time needed to decide on the dividend
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Q1: more time needed to decide on the dividend
It is difficult to get a clear message from management, but we believe it is saying that Eni can withstand the current turmoil and let the leverage increase in order to fulfill the dividend as long as a recovery is foreseeable in H2. Q2 will be critical as the lockdown exit will dictate further steps.