Baku, Azerbaijan, Sept.25
By Leman Zeynalova – Trend:
Total will generate production growth of more than 5 percent per year growth between 2018 and 2021, then after a stable period between 2022-23, growth will resume at more than 3% per year driven mainly by LNG project start-ups, Trend reports citing Total.
Such growth will be delivered while capital discipline will be maintained with $16-18 billion per year capital investment over 2019 to 2023, the company said in its report.
The Group’s cash flow will increase by more than $5 billion by 2025 in a 60 $/b environment, an average increase of around $1 billion per year.
As a result of this strong outlook, the Board of Directors decided to accelerate dividend growth for the coming years with a guidance of increasing the dividend by 5 to 6 percent per year. As a result, the proposed amount for the third interim dividend for 2019 will be 0.68 euros per share, an increase of 6 percent compared to the third interim dividend for 2018.
These decisions reflect the Board’s confidence in the ability of the Group to deliver sustainable and profitable growth for the coming years.
Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity.
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