TotalEnergies Boosts Buyback to $1.5B and Raises Dividend to €0.90
TotalEnergies will repurchase up to $1.5 billion of shares in Q2 and raised its dividend to €0.90 from €0.85 after reporting first-quarter adjusted net income of $5.39 billion, a 29% increase. Strong gas and oil trading, plus ramp-ups in Brazil and Libya, offset a 15% Middle East production shutdown.
1. Q1 Profit and Buyback Increase
TotalEnergies reported first-quarter adjusted net income of $5.39 billion, a 29% rise year-over-year, beating the $4.98 billion consensus. The company plans to repurchase up to $1.5 billion of shares in Q2, doubling its initial $750 million target for the first quarter.
2. Dividend Hike and Cash Flow
The quarterly dividend was raised to €0.90 per share from €0.85, supported by strong cash flow generation and a solid balance sheet. Robust operating cash flows enabled the higher payout without compromising investment capacity.
3. Trading Performance
TotalEnergies’ trading arm achieved one of its largest Middle Eastern oil purchases, driving upward price pressure. Liquefied natural gas and petroleum product trading also delivered strong results during the first quarter market volatility.
4. Production Stability and Political Risks
New projects and ramp-ups in Brazil and Libya offset shutdowns in Qatar, Iraq and the UAE, which represented about 15% of output. Increased shareholder payouts may draw scrutiny from French policymakers concerned about rising fuel costs.