Equinor to Pay $14 Billion to Investors Even as Profit Drops
- Adjusted net income fell 60% last quarter as gas prices fell
- Shares slide as much as 4.8%, biggest decline since last March
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Equinor ASA said it will pay out $14 billion in share buybacks and dividends this year, following Big Oil’s current playbook in funneling surplus cash to investors.
The commitment, down $3 billion from 2023, comes despite a slump in earnings after natural gas prices fell. European competitors Shell Plc, TotalEnergies SE and BP Plc are also maintaining generous rewards for shareholders as profits remain high by historical standards.