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Total to Accelerate Dividend Growth

  • French major plans 5%-6% dividend growth in coming years
  • Total sees cash flow rising by about $1 billion/yr until 2025
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French oil major Total SA will accelerate dividend growth in a sign of confidence that investment in fast-growing gas and electricity markets will steadily increase cash flow.

Total plans to boost its payout by 5% to 6% annually in the coming years, up from a previous plan for 3% growth, the company based near Paris said Tuesday. Like peers, Total has been under pressure from investors to boost shareholder returns and prioritize the most profitable projects amid slowing global economic growth and mounting concern about climate change.