TotalEnergies posts tangible increase in its Q4 net profit

TotalEnergies SE on Thursday said that profit jumped in the fourth quarter of the year as business benefited from a strong oil-and-gas price environment, Report informs, citing MarketWatch.

The French major said quarterly net profit came in at $5.84 billion compared with $891 million for the same period last year. On an adjusted basis, profit was $6.83 billion, above a FactSet-compiled consensus that had the figure at $6.07 billion.

Total's hydrocarbon production was 2.85 million barrels of oil equivalent a day in the quarter. The company said it expects production to grow by around 2% in the current year.

Sales for the third quarter rose to $60.35 billion from $37.94 billion for the year-earlier period.

TotalEnergies said it will propose a final dividend of 0.66 European cents ($0.75) for 2021, equal to the previous three interim payments. The 2021 dividend will amount to 2.64 euros a share and will be paid in cash.

The shareholder return policy for the current year will combine an increase in interim dividends of 5% and share buybacks, which are expected to be $2 billion for the first half of 2022, according to the company.