TotalEnergies announces the second interim dividend of €0.79/share for fiscal year 2024, an increase close to 7% compared to 2023

Rhea-AI Summary

TotalEnergies (TTE) has announced its second interim dividend for fiscal year 2024, set at €0.79 per share. This represents a 6.8% increase compared to the interim dividends paid for fiscal year 2023. The dividend amount is consistent with the final dividend for 2023 and the first interim dividend for 2024. This increase aligns with the shareholder return policy confirmed by the Board of Directors in February 2024 and reiterated at the Annual General Meeting in May 2024.

The dividend will be paid exclusively in cash, with ex-dividend dates set for January 2, 2025 for shareholders and December 31, 2024 for ADS holders. Payment dates are scheduled for January 6, 2025 for shareholders and January 21, 2025 for ADS holders.

Positive

• Increased dividend of €0.79 per share, up 6.8% from 2023
• Consistent dividend growth in line with shareholder return policy
• Commitment to shareholder value through regular dividend payments

Negative

• None.

Insights

Financial Analyst

TotalEnergies' announcement of a €0.79 per share second interim dividend for fiscal year 2024 signals a strong commitment to shareholder returns. The 6.8% increase compared to 2023's interim dividends is noteworthy, especially in the current economic climate.

This dividend hike aligns with the company's previously stated shareholder return policy, demonstrating consistency in their financial strategy. It's particularly significant that this increase matches the final dividend for 2023 and the first 2024 interim, indicating a stable and potentially growing dividend trend.

For investors, this news is generally positive. A rising dividend often signals management's confidence in the company's financial health and future prospects. However, it's important to consider this in the context of TotalEnergies' overall financial performance, including revenue growth, profit margins and cash flow.

The decision to pay the dividend exclusively in cash, rather than offering a scrip option, suggests strong liquidity. This could be seen as a positive indicator of the company's cash position, but it's worth monitoring how this impacts their balance sheet and investment capabilities in the long term.

Investors should also note the ex-dividend and payment dates, which differ slightly for shareholders and ADS holders. This information is important for those looking to capitalize on the dividend payment or make informed trading decisions around these dates.

While this dividend increase is encouraging, prudent investors should also consider broader industry trends, oil price volatility and TotalEnergies' progress in energy transition efforts, as these factors will ultimately influence the sustainability of such dividend policies in the long run.

Energy Sector Analyst

TotalEnergies' dividend increase comes at an interesting time for the energy sector. With oil prices showing volatility and increasing pressure for energy transition, this move suggests confidence in the company's ability to generate strong cash flows despite industry challenges.

The 6.8% dividend hike is notable when compared to peers. Many oil majors have been cautious with dividend increases, focusing instead on share buybacks or debt reduction. TotalEnergies' decision to boost its dividend could be seen as a strategic move to attract income-focused investors in a sector that's facing long-term uncertainties.

However, this raise also brings questions about the company's capital allocation strategy. As the energy transition accelerates, investors will be keen to see how TotalEnergies balances shareholder returns with necessary investments in low-carbon technologies. The sustainability of this dividend policy will likely depend on the company's success in navigating the evolving energy landscape.

It's worth noting that despite industry headwinds, TotalEnergies has maintained a relatively strong financial position. This dividend increase could be interpreted as a signal of management's optimism about future cash flows, possibly driven by a combination of traditional oil & gas operations and growing renewable energy projects.

Investors should watch for TotalEnergies' upcoming financial results and strategic updates to gauge whether this dividend policy aligns with the company's long-term growth and transition plans. The energy sector is at a critical juncture and how companies like TotalEnergies manage shareholder returns versus investment in future-proofing their business will be important for their long-term success.

PARIS--(BUSINESS WIRE)-- Regulatory News:

The Board of Directors meeting on July 24, 2024 under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, decided the distribution of the second 2024 interim dividend of 0.79 €/share, an increase of 6.8% compared to the three interim dividends paid for fiscal year 2023 and identical to the final dividend for fiscal year 2023 and to the first 2024 interim. This increase is in line with the shareholder return policy confirmed by the Board of Directors in February 2024 and reiterated at the Annual General Meeting of May 24, 2024.

This interim dividend will be paid in cash exclusively, according to the following timetable:

				Shareholders				ADS holders
Ex-dividend date				January 2, 2025				December 31, 2024
Payment date				January 6, 2025				January 21, 2025

About TotalEnergies

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

@TotalEnergies TotalEnergies TotalEnergies TotalEnergies

Disclaimer:

The terms “TotalEnergies”, “TotalEnergies company” and “Company” in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities.

This document may contain forward-looking statements (including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995), notably with respect to the financial condition, results of operations, business activities and strategy of TotalEnergies. This document may also contain statements regarding the perspectives, objectives, areas of improvement and goals of TotalEnergies, including with respect to climate change and carbon neutrality (net zero emissions). An ambition expresses an outcome desired by TotalEnergies, it being specified that the means to be deployed do not depend solely on TotalEnergies. These forward-looking statements may generally be identified by the use of the future or conditional tense or forward-looking words such as “will”, “should”, “could”, “would”, “may”, “likely”, “might”, “envisions”, “intends”, “anticipates”, “believes”, “considers”, “plans”, “expects”, “thinks”, “targets”, “aims” or similar terminology. Such forward-looking statements included in this document are based on economic data, estimates and assumptions prepared in a given economic, competitive and regulatory environment and considered to be reasonable by TotalEnergies as of the date of this document.

These forward-looking statements are not historical data and should not be interpreted as assurances that the perspectives, objectives, or goals announced will be achieved. They may prove to be inaccurate in the future, and may evolve or be modified with a significant difference between the actual results and those initially estimated, due to the uncertainties notably related to the economic, financial, competitive and regulatory environment, or due to the occurrence of risk factors, such as, notably, the price fluctuations in crude oil and natural gas, the evolution of the demand and price of petroleum products, the changes in production results and reserves estimates, the ability to achieve cost reductions and operating efficiencies without unduly disrupting business operations, changes in laws and regulations including those related to the environment and climate, currency fluctuations, technological innovations, meteorological conditions and events, as well as socio-demographic, economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, or pandemics such as the COVID-19 pandemic. Additionally, certain financial information is based on estimates particularly in the assessment of the recoverable value of assets and potential impairments of assets relating thereto.

Readers are cautioned not to consider forward-looking statements as accurate, but as an expression of the Company’s views only as of the date this document is published. TotalEnergies SE and its subsidiaries have no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statement, objectives or trends contained in this document. In addition, the Company has not verified, and is under no obligation to verify any third-party data contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document.

The information on risk factors that could have a significant adverse effect on TotalEnergies’ business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the United States Securities and Exchange Commission (“SEC”).

Cautionary Note to U.S. Investors – U.S. investors are urged to consider closely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888, available from us at 2, place Jean Millier – Arche Nord Coupole/Regnault - 92078 Paris-La Défense Cedex, France, or at the Company website totalenergies.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website sec.gov.

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TotalEnergies Contacts

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR

Investor Relations: +33 1 47 44 46 46 l ir@totalenergies.com

Source: TOTALENERGIES SE

FAQ

What is TotalEnergies' (TTE) second interim dividend for fiscal year 2024?

TotalEnergies (TTE) has announced a second interim dividend of €0.79 per share for fiscal year 2024.

How much has TotalEnergies (TTE) increased its dividend compared to 2023?

TotalEnergies (TTE) has increased its dividend by 6.8% compared to the interim dividends paid for fiscal year 2023.

When is the ex-dividend date for TotalEnergies' (TTE) second 2024 interim dividend?

The ex-dividend date is January 2, 2025 for shareholders and December 31, 2024 for ADS holders.

What is the payment date for TotalEnergies' (TTE) second 2024 interim dividend?

The payment date is January 6, 2025 for shareholders and January 21, 2025 for ADS holders.