TotalEnergies Outlines Strategy Focusing on Shareholders Returns, Investments -- Update
28 Setembro 2022 - 12:21PM
Dow Jones News
By Giulia Petroni
TotalEnergies SE said Wednesday that it plans to allocate 35% to
40% of its cash flow to shareholders in the coming years and has
introduced a special dividend for 2022 as part of its new
strategy.
The French oil-and-gas major said it will distribute a special
interim dividend of 1 euro (96 U.S. cents) a share at the end of
the year, in addition to maintaining a $7 billion share buyback and
the 5% increase in quarterly interim dividends already
implemented.
The company expects to have a strong balance sheet by year end,
with gearing down to around 5% and structural cash flow growth
supporting dividend growth over the next five years, it said.
Excluding Russia, underlying cash flow is expected to grow by $4
billion over the coming five years, based on price assumptions of
$50 a barrel for oil and $8 per million British thermal units for
European gas. The company said it would generate an additional cash
flow of more than $3 billion for every $10/b increase in oil
price.
TotalEnergies said net investments will be between $14 billion
and $18 billion a year over the 2022-25 period, a third of which
will be allocated toward green energies and carbon footprint
reduction programs, while the remaining two thirds will be destined
to growing the liquefied natural gas business and developing other
oil projects to meet demand.
LNG production is expected to grow by 40% from 2021 to 2030 and
LNG sales by 3% a year through 2027 without contribution from
Russia, according to TotalEnergies. The company said it is looking
particularly at the U.S. and Qatar as it seeks to diversify away
from Russia.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 28, 2022 11:06 ET (15:06 GMT)
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