Oil Supermajor Total beats quarterly profit despite low oil price, boosts dividend



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Oil Supermajor Total beats quarterly profit despite low oil price, boosts dividend

On Thursday, the 6th of February 2020, Total SA, the Paris-based French multinational integrated oil and gas company, contemplated as one of the six oil Supermajors across the globe, had unveiled its quarterly earnings’ report for Q4, 2010, that beat a prior estimate despite a multi-year low crude oil and natgas price, eventually lifting up the French energy supermajor’s shares’ price more than 1 per cent in after-market trading.

On top of that, since the Paris-based energy industry mammoth had reported a fourth-quarterly profit of $3.2 billion, beating an analysts’ estimate of a drop in operational profit to $2.7 billion, the company was also able to fulfil its pledge to boost up dividends.

Meanwhile, citing that the company would be rewarding its stakeholders with a 6 per cent hike at its final dividend for 2019 to €0.68 per share, Total SA Chief Executive, Patrick Pouyanne said to the reporters in a post-earnings’ call on Thursday (February 6th), “This performance is better than that of our rivals in terms of resisting low oil prices.

Taking into account the strong visibility on cash flow, the group will continue to increase the dividend with the guidance of 5% to 6% per year. ”