BAKU, Azerbaijan, February 26. TotalEnergies is looking at net investments ranging from $17 to $18 billion in 2024, Trend reports.
As the company noted, $5 billion will be specifically allocated to the integrated power sector this year.
At the same time, this exceeds the net investments made in 2023, totaling $16.8 billion. The investment volume for 2023 also witnessed a 3-percent rise compared to 2022, which stood at $16.3 billion.
Furthermore, TotalEnergies' directors board has affirmed a shareholder return policy for the year. This policy aims for a >40 percent CFFO payout, combining a 6.8-percent increase in interim dividends to 0.79 euros per share and $2 billion in share buybacks scheduled for the first quarter of 2024.
These actions align with the following priorities for cash flow allocation:
- Ensuring a sustainable ordinary dividend through economic
cycles, which remained intact during the Covid crisis, and whose
growth is supported by underlying cash flow expansion.
- Making investments to bolster a strategy that is well-balanced
across various energies.
- Maintaining a robust balance sheet.
- Utilizing buybacks to distribute surplus cash flow generated
during periods of high prices.
Meanwhile, TotalEnergies' adjusted net income amounted to $23.2 billion in 2023. This marked a decrease of 36 percent year-on-year ($36.1 billion in 2022). In 4Q2023, this volume totaled $5.2 billion, which is lower by 18 percent, compared to 3Q2023 results ($6.4 percent), and by 31 percent year-on-year ($7.5 billion in 4Q2022).