Enel hikes dividend after profits lifted by green business, networks

A logo of Italian multinational energy company Enel is seen at the Milan’s headquarter, Italy, February 5, 2020. REUTERS/Flavio Lo Scalzo

MILAN, March 17 (Reuters) – Italy’s Enel hiked its dividend after reporting a 7.6% rise in net profits last year, a one-off capital gain and stronger green energy and networks business helping it to meet expectations and guidance.

Europe’s biggest utility, which last year made a capital gain of 1.763 billion euros from the sale of its stake in broadband network group Open Fiber, said on Thursday its ordinary net profit in 2021 was 5.593 billion euros ($6.22 billion).

It had guided for 5.4-5.6 billion euros.

The company, which reported preliminary results in February, said it would pay a dividend of 0.38 euros, 6.1% higher than the previous year.

Enel, which controls Spanish utility…