November 26, 2019 / 7:06 AM / 18 days ago

Enel raises the bar on earnings as it pledges to spend more on clean energy

MILAN, Nov 26 (Reuters) - Italy’s Enel raised earnings expectations in its new business plan on Tuesday and said it would spend 11% more to fund growth in clean energy and its networks business.

Europe’s biggest utility confirmed a 70% payout ratio while promising a 7.7% growth in its minimum dividend per share (DPS) to 0.4 euros in 2022. Enel will pay investors the highest amount between the payout ratio and minimum DPS. (Reporting by Stephen Jewkes)

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