By Pietro Lombardi

Italian energy company Enel SpA (ENEL.MI) said Tuesday that it is planning 24.6 billion euros ($28.9 billion) in capital expenditure over the next three years, with a significant amount earmarked for digitalization.

The company expects to invest about EUR5.3 billion in digitalization and is targeting earnings before interest, taxes, depreciation and amortization of EUR3.3 billion in 2020, an increase of 32% compared with 2017.

Enel confirmed it plans to pay out 70% of its ordinary after-tax income as dividends from 2018 onwards. For 2018 itself, the company said its minimum dividend would be EUR0.28, a 33% increase on the dividend it has guaranteed for 2017.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

November 21, 2017 03:00 ET (08:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
Enel (BIT:ENEL)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Enel Charts.
Enel (BIT:ENEL)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Enel Charts.