TotalEnergies Boosts Investor Return Despite 31% Profit Drop
- Payout up 7.1%, to buy back $2 billion of shares this quarter
- Strong LNG volume growth offset refining, chemicals weakness
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TotalEnergies SE raised its dividend and continued share buybacks, shrugging off a 31% drop in fourth-quarter earnings caused by weaker oil and gas prices and shrinking refining margins.
The French energy giant’s results, although slightly weaker than expected, mirror the trend of rising returns from Big Oil. The majors have become a cash cow for shareholders as earnings remain high by historical standards, even if profits are down from a year earlier in line with energy prices.