TotalEnergies raises buybacks and pledges higher dividends as oil trades around $100
TotalEnergies will buy back $2.5 billion (€2.2bn) of its own shares in the fourth quarter, up from $1.5 billion (€1.3bn) authorised for the third, and raise its dividend by more than 5% a year through 2030, as high oil prices boost the French energy giant’s earnings.
TotalEnergies, the French oil and gas company, has announced plans to increase its buybacks and dividends as oil prices trade around $100 per barrel. The company's board approved $2.5 billion in buybacks for the last quarter of 2026 and between $2 billion and $2.5 billion for the first quarter of 2027, compared to $1.5 billion in the third quarter of this year.
Additionally, the board adopted a policy to increase the dividend by more than 5% a year for financial years 2026 to 2030, aiming to return at least 40% of cash flow to shareholders. TotalEnergies expects its gearing ratio to fall below 10% by the end of this year and aims to grow energy production, including oil, gas, and electricity, by 4% a year through 2030.
The company's portfolio of projects in various countries and existing reserves will allow it to maintain oil and gas output at around 3 million barrels of oil equivalent a day through 2035.
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