Plus   Neg

Total To Accelerate Dividend Growth

Total SA (TTA.L,TTFNF.PK,TOT) said it will accelerate dividend growth for the coming years with a guidance of increasing the dividend by 5% to 6% per year. As a result, the proposed amount for the third interim dividend for 2019 will be 0.68 euros per share, an increase of 6% from the third interim dividend for 2018.

The company said it will generate production growth of more than 5% per year growth between 2018 and 2021, then after a stable period between 2022-23, growth will resume at more than 3% per year driven mainly by LNG project start-ups.

Such growth will be delivered while capital discipline will be maintained with $16-18 billion per year capital investment over 2019 to 2023.

The Group's cash flow will increase by more than $5 billion by 2025 in a 60 $/b environment, an average increase of around $1 billion per year, the company said.

Total noted that it will increase its LNG sales to 50 Mt per year by 2025, supporting CFFO growth in integrated LNG of 2.5 times between 2018 and 2025. In low carbon electricity, Total will invest $1.5 billion - $2 billion per year, notably in Europe, as a power producer from renewables and natural gas and distributor, targeting 8 million customers by 2025.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT