TotalEnergies Announces Dividend Increase for 2023
TotalEnergies, the French oil and gas company, has revealed its plans to increase dividends for 2023, following in the footsteps of other energy giants such as Shell, BP, and Equinor.
The proposed dividend for 2023 is set at 3.01 euros ($3.24) per share, marking a significant 7.1% increase from the previous year. Additionally, TotalEnergies has announced a final dividend of EUR0.79 per share for 2023.
In a bid to further enhance shareholder returns, the company has pledged to give back over 40% of its cash flow by 2024. This commitment will be realized through a 6.8% increase in interim dividends to EUR0.79 per share, as well as a share buyback program amounting to $2 billion in the first quarter of 2024.
TotalEnergies' decision to raise dividends comes on the back of impressive financial performance. The company reported a net profit of $5.06 billion in the fourth quarter of the previous year, surpassing both the $3.26 billion recorded in the same period a year ago and analysts' expectations of $5.65 billion.
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