Eni pledges higher returns after better-than-expected profits in the second quarter

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Italian energy group Eni pledged higher returns to shareholders, after turning to a net profit in the second quarter, beating expectations as higher oil prices offset lower production.

Adjusted net profit for the period was 929 million euros ($1.1 billion), beating the company's average forecast of 0.57 billion euros.

Eni said it would pay a dividend of 0.86 euros per share for 2021, from 0.36 euros last year, and launched a share buyback of 400 million euros.

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