TotalEnergies raises buybacks and pledges higher dividends as oil trades around $100

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TotalEnergies plans $2.5 billion in share buybacks in the fourth quarter, up from the $1.5 billion authorized for the third quarter, and says it will raise its dividend by more than 5% annually through 2030. The company linked the increased shareholder returns to stronger earnings amid oil prices near $100 per barrel.

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.