– Proposes €2.64/share dividends
Mkpoikana Udoma
Port Harcourt — TotalEnergies SE has announced that the company generated a net cash flow of $15.8billion for the 2021 financial year.
To this end, the Board of Directors of TotalEnergies SE has proposed the payment of dividends of €2.64 per share, to shareholders for the 2021 financial year.
The €2.64 per share is imperative following the Board’s proposal for distribution of a final dividend of €0.66 per share for the 2021 financial year, in addition to the three interim dividends of €0.66 per share, previously declared by the Board.
This, amongst others, was part of the decisions approved by the company’s Board during its meeting yesterday in Paris, France, under the Chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.
According to the Board, the final dividend which is subject to approval by the General Assembly, will be paid in cash to shareholders by July 2022.
“The Company maintained capital discipline with net investments of $13.3 bilion, of which 25percent was in renewabes and electricity.
“TotalEnergies reported net cash flow of $15.8 billion for the year, allowing it to continue to reduce its net debt with year-end gearing reduced to15.3percent compared to 21.7percent at year-end 2020, and buy back $1.5 billon of shares.
“The Board decided to propose at the Shareholders’ Meeting to be held on May 25, 2022, the distribution of a final dividend of €0.66 pershare for the 2021 financial year, the same amount as the three interim payments paid for the 2021 financial year.
“Taking into account the three interim dividends of €0.66 per share previously declared by the Board, the dividend for the 2021 financial year will amount to €2.64 per share.”
TotalEnergies’ Board of Directors also announced that it has defined a shareholder return policy for 2022, which would see to the increase in the interim dividends of 5percent, following the structural growth in cash flow generated by LNG, electricity business, and surplus cash flow from high hydrocarbon prices.
“The Board of Directors has defined a shareholder return policy for 2022. It will combine: an increase in the interim dividends of 5percent taking into account the structural growth in cash flow generated by the LNG and electricity business, and buybacks to share the surplus cash flow from high hydrocarbon prices.
“These share buybacks are expected to be $2 billion for the first half of 2022.”
The Board also said it will report the progress of implementing its sustainable development and energy transition toward carbon neutrality, during its upcoming shareholders meeting in May 2022.
“In accordance with the resolution approved by shareholders in May 2021 on TotalEnergies’ ambitions for sustainable development and energy transition toward carbon neutrality, the Board of Directors will report on the progress made in implementing these ambitions at the Shareholders’ Meeting on May 25, 2022.
“With this in mind, the Board of Directors will adopt a Sustainability and Climate – Progress Report 2022, which will be submitted to a shareholder advisory vote at the Annual Shareholders’ Meeting on May 25, 2022. It will be published and presented on March 24, 2022, during a Strategy, Sustainability and Climate investor meeting.”
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