Paris - The Board of Directors reviewed the outlook for the Group through 2025. Total is demonstrating its ability to maintain a sustainable pre-dividend breakeven below 30 $/b and a solid financial position with a gearing objective below 20%. The Group also reaffirms its strong discipline on investment and cost.
Delivering on its strategy for sustainable and profitable growth in oil and gas activities as well as investing in growing energy markets, notably LNG and low-carbon electricity, provide stronger visibility on the future of the Group.
This results notably in a projected increase in the Group’s cash flow of more than $5 billion by 2025 in a 60 $/b environment, or an average increase of about $1 billion per year.
Consequently, the Board of Directors, meeting on September 23, decided to accelerate dividend growth in the coming years, with a guidance of increasing the dividend by 5 to 6% per year instead of the 3% per year as previously announced. As a result, the proposed amount for the third interim dividend for 2019 will be 0.68€ per share, an increase of 6% compared to the third interim dividend for 2018.
These decisions reflect the Board’s confidence in the Group’s ability to deliver profitable and sustainable growth in the coming years.
Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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