TotalEnergies raises dividend as Iran war boosts first quarter profit
29 april, 09:34
(Alliance News) - TotalEnergies SE on Wednesday reported a jump in profit for the first quarter and hiked its dividend, as the ongoing conflict in the Middle East continues to drive up oil prices.
The Paris-based energy group said consolidated net income jumped 51% to USD5.93 billion from USD3.92 billion a year prior. The TotalEnergies share of this grew 51% to USD5.81 billion from USD3.85 billion. Adjusted net income climbed 29% to USD5.39 billion from USD4.19 billion.
Diluted earnings per share advanced 57% to USD2.64 from USD1.68, while sales climbed 3.7% to USD54.16 billion from USD52.25 billion.
TotalEnergies said it will increase its first interim dividend by 5.9% to EUR0.90 per share from EUR0.85, which it said it is "highest dividend growth among the oil and gas majors".
The board also authorised the continuation of share buybacks up to USD1.5 billion in the second quarter and confirmed the objective of a payout ratio above 40% over the year.
"Driven by a 4% year-on-year organic production growth, offsetting the impact on production of the current Middle East conflict, TotalEnergies reports adjusted net income of USD5.4 billion and a cash flow of USD8.6 billion in the first quarter, demonstrating its ability to capture price upside through a high-performing and diversified integrated portfolio in oil, gas and power," said Chief Executive Officer Patrick Pouyanne.
Looking ahead, TotalEnergies said oil prices should remain at high levels during the second quarter.
Excluding the impact of the conflict in the Middle East, it expects second quarter production to growth around 4% compared to a year ago, in line with first quarter growth.
It said the current production shut down in Qatar, Iraq and offshore in the United Arab Emirates represents around 15% of its total production.
Separately on Wednesday, TotalEnergies said it has completed the acquisition of 50% of EPH's flexible power generation platform in Italy, UK & Ireland, Netherlands and France.
In exchange, EPH will receive around 95.4 million shares in TotalEnergies, representing around 4.2% of its share capital, making it one of the company's main shareholders.
The transaction leads to the creation of TTEP, the second largest flexgen player in Europe, based in Amsterdam.
Shares in TotalEnergies were up 1.1% at EUR79.09 on Wednesday morning in Paris.
By Michael Hennessey, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
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TotalEnergies raises dividend as Iran war boosts first quarter profit
29 april, 09:34
(Alliance News) - TotalEnergies SE on Wednesday reported a jump in profit for the first quarter and hiked its dividend, as the ongoing conflict in the Middle East continues to drive up oil prices.
The Paris-based energy group said consolidated net income jumped 51% to USD5.93 billion from USD3.92 billion a year prior. The TotalEnergies share of this grew 51% to USD5.81 billion from USD3.85 billion. Adjusted net income climbed 29% to USD5.39 billion from USD4.19 billion.
Diluted earnings per share advanced 57% to USD2.64 from USD1.68, while sales climbed 3.7% to USD54.16 billion from USD52.25 billion.
TotalEnergies said it will increase its first interim dividend by 5.9% to EUR0.90 per share from EUR0.85, which it said it is "highest dividend growth among the oil and gas majors".
The board also authorised the continuation of share buybacks up to USD1.5 billion in the second quarter and confirmed the objective of a payout ratio above 40% over the year.
"Driven by a 4% year-on-year organic production growth, offsetting the impact on production of the current Middle East conflict, TotalEnergies reports adjusted net income of USD5.4 billion and a cash flow of USD8.6 billion in the first quarter, demonstrating its ability to capture price upside through a high-performing and diversified integrated portfolio in oil, gas and power," said Chief Executive Officer Patrick Pouyanne.
Looking ahead, TotalEnergies said oil prices should remain at high levels during the second quarter.
Excluding the impact of the conflict in the Middle East, it expects second quarter production to growth around 4% compared to a year ago, in line with first quarter growth.
It said the current production shut down in Qatar, Iraq and offshore in the United Arab Emirates represents around 15% of its total production.
Separately on Wednesday, TotalEnergies said it has completed the acquisition of 50% of EPH's flexible power generation platform in Italy, UK & Ireland, Netherlands and France.
In exchange, EPH will receive around 95.4 million shares in TotalEnergies, representing around 4.2% of its share capital, making it one of the company's main shareholders.
The transaction leads to the creation of TTEP, the second largest flexgen player in Europe, based in Amsterdam.
Shares in TotalEnergies were up 1.1% at EUR79.09 on Wednesday morning in Paris.
By Michael Hennessey, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
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