Enel plans to spend more on modernizing mature markets FREE AMERICA NETWORK [Video]

FILE PHOTO: The logo of Italy’s biggest utility Enel is seen at the Rome headquarters, Italy, March 24, 2016. REUTERS/Stefano Rellandini/File Photo

November 21, 2017

MILAN (Reuters) – Italy’s biggest utility Enel <ENEI.MI> said in its new plan it was shifting its focus to more mature markets like Italy, Spain and the U.S., stepping up a pledge to make its networks more digital.

In its 2018-2020 business plan, announced on Tuesday, Enel confirmed most of the financial targets from its previous plan but raised its minimum dividend per share next year by 33 percent to 0.28 euros.

It said it would be selling a further 3.2 billion euros of assets in the three years to 2020 and would earmark 2.3 billion euros to buy back minorities and 2 billion euros to buy grids and e-solution businesses.

(Reporting by Stephen Jewkes, editing by Giulia Segreti)

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