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Italgas raises dividend as 2020 core earnings rise

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Italgas logo is seen at the Milan's stock exchange headquater, in Milan
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MILAN (Reuters) - Italgas will pay a fatter dividend after core earnings last year rose despite the health pandemic and a tougher regulatory framework for gas distribution.

Italy's biggest gas distributor said it would pay a dividend on 2020 results of 0.277 euros per share, up 8.2% on the year, as adjusted core earnings rose 7% to 971.4 million euros ($1.16 billion).

Adjusted net profit for the year rose 3.5% to 364 million euros.

(Reporting by Stephen Jewkes; editing by Agnieszka Flak)