(Alliance News) - Snam's board of directors has approved the 2023-2027 strategic plan. The company aims to achieve an increase in adjusted Ebitda of 7.4 percent on average per year, from about 7 percent in the previous plan.

It also expects adjusted net income with growth of about 4 percent on average per year, up from 3 percent in the previous plan, "despite more onerous interest rates," the released note said.

As for the dividend, it expects minimum growth increased to 3 percent from the previous 2.5 percent.

The 2023-2027 plan calls for EUR11.5 billion in total investments -- net of public financing of about EUR900 million -- a 15 percent increase over the 2022-2026 plan.

Snam closed Wednesday's session up 0.4 percent at EUR4.63 per share.

By Maurizio Carta, Alliance News reporter

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