By Christopher Emsden
ROME--Italy's gas distributor Snam SpA (SRG.MI) said Wednesday
it planned to issue a dividend of EUR0.25 a share this year and
next as part of its commitment to an "attractive and sustainable"
payout policy.
Snam will later Wednesday present its strategic plan for 2014
through 2017, outlining 6 billion euros ($8.4 billion) in
investments aimed at bolstering Italy's gas system and making it
more flexible.
The plan envisions closer integration with gas systems around
Europe, said Chief Executive Carlo Malacarne.
Gas transport capacity will be built up in northern Italy with
an eye to making physical export to northern Europe more possible,
the company said.
Italy has large gas supplies from northern Africa that could
help offset sporadic tensions linked to Russia's supply to
Germany.
Snam, one of Italy's 10 largest listed companies with a market
capitalization of EUR14 billion will present its plan to financial
analysts and institutional investors at 1400 GMT.
Write to Christopher Emsden at chris.emsden@wsj.com