TotalEnergies Raises Share Buybacks to $2.5 Billion
- TotalEnergies announced Monday it is increasing fourth-quarter share buybacks to $2.5 billion from $1.5 billion, citing high global energy prices boosting returns for the French supermajor.
- Profit surged this year as higher oil prices and strong trading results, combined with bigger refining margins driven by the Iran war, pushed second-quarter earnings to the highest level in nearly three years.
- Oil and gas production is expected to grow by more than 3% annually until 2030, supported by new low-cost projects in Namibia, Nigeria, Libya, Malaysia, Mozambique, and Papua New Guinea.
- The board confirmed a shareholder return of at least 40% of cash flow and decided to increase the dividend by more than 5% annually through 2030.
- Electricity is expected to account for 25% of the energy mix by 2035, while the firm's Integrated Power division targets free cash flow positive status in 2027.
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27 Articles
TotalEnergies will buy back $2.5 billion of its shares in the fourth quarter of this year. A share buyback consists of a company acquiring its own shares on the stock exchange. This operation allows the French oil giant to reduce the number of its shares in circulation and increase the profit per share, thanks to the rise in oil prices linked to the war in the Middle East.
TotalEnergies raises buybacks and pledges higher dividends as oil trades around $100
TotalEnergies will buy back $2.5 billion (€2.2bn) of its own shares in the fourth quarter, up from $1.5 billion (€1.3bn) authorised for the third, and raise its dividend by more than 5% a year through 2030, as high oil prices boost the French energy giant’s earnings.
TotalEnergies presented its growth goals to expand its energy capacity after 2030, supported by billions of dollars in annual investments. Exclusive material for subscribers. To have full access, access the link of the material and register.
TotalEnergies has significantly increased its share buyback target for the fourth quarter and promised to increase its dividend by more than 5 percent per year until the end of the decade, taking advantage of the favorable market environment provided by high oil and gas prices, the Financial Times reported.
On Monday 28 September, the petrogazier giant TotalEnergies announced an increase in its dividend of more than 5% per year until 2030. In a press release, the group also indicated that it would expect an increase in its oil and gas production of more than 3% per year over the same period. On the electricity side, TotalEnergies intends to "maintain its growth rate" between 2030 and 2035. - Fuel prices: TotalEnergies plans to increase its dividend…
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TotalEnergies Raises Fourth-Quarter Buybacks to $2.5 Billion as Energy Prices Lift Returns
TotalEnergies will increase fourth-quarter share buybacks to $2.5 billion from $1.5 billion in recent quarters. The French energy company also outlined higher future dividends and ... The post TotalEnergies Raises Fourth-Quarter Buybacks to $2.5 Billion as Energy Prices Lift Returns first appeared on [your]NEWS.
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