TotalEnergies Dividends Climb to 424% As Firm Boosts Shareholder Return

Reports have shown that Total Energies Plc has been constantly paying dividends since 2006, with a payout of 79% for the past seventeen years, and this has shown improved earnings and cash flow generation. 

The data from BusinessDay has revealed that the downstream company's total dividend rose to N7.13 billion in the first nine months of 2023 from the corresponding year, which settled at N1.36 billion in 2022.

The company interim dividend remained at N0.00 for qualifying ordinary shares, while the final dividend settled at N21.00 per qualifying ordinary share during the period that ended in September 2023.

The firm's interest on deposits for unclaimed dividends climbed to N62.84 million in the first nine months of 2023 from the corresponding year, which settled at N53.23 million in 2022.

The reports also showed that the Total Energies shareholders fund climbed by 12% to settle at N53.98 billion in the first nine months of 2023 from the corresponding year, which settled at N48.04 billion in 2022. Additionally, share capital remained at N169.76 million year over year.

The firm’s revenue climbed by 25% to settle at N422.58 billion in the first nine months of 2023 from the corresponding year, which settled at N337.19 billion in 2022.

The firm’s disaggregation of revenue shows that the network contributed N228.19 billion, while general trade contributed N147.9 billion, and aviation stood at N46.48 billion.

The firm’s cost of sales rose to N366.46 billion in the first nine months of 2023 from the corresponding year, which settled at N292.53 billion in 2022.

It was also reported that Total Energies incurred N4.78 billion on transport of supplies in the first nine months of 2023 compared to the corresponding year, which settled at N6.84 billion in 2022.

The firm’s other income rose to N3.2 billion in the first nine months of 2023 compared to the corresponding year, which settled at N2.65 billion in 2022.

Profit after tax for Total Energies declined to N10.82 billion in the first nine months of 2023 compared to the corresponding year, which settled at N12.51 billion in 2022.

The firm’s selling and distribution costs rose to N3.97 billion in the first nine months of 2023 compared to the corresponding year, which settled at N3.05 billion in 2022.

Total Energies administrative expenses rose to N29.16 billion in the first nine months of 2023 compared to the corresponding year, which settled at N23.71 billion in 2022.

Impairment write-back/loss of Total Energies on financial assets declined to N75.22 million in the first nine months of 2022 compared to the corresponding year, which settled at N124.6 million in 2022.

Remaining Data From BusinessDay Report on Total Energies

• Auditor’s remuneration rose to N56.75 million in 9M’2023 from N52.04 million in the same period of 2022.

• Staff costs increased to N10.88 billion in 9M’2023 from N9.1 billion in the same period of 2022.

• Total Energies inventories stood at N59.88 billion which entails finished goods worth N34.84 billion, raw materials worth N15.98 billion, goods in transit worth N5.77 billion, and consumable equipment and spares worth N3.29 billion.

• Net finance costs increased to N3.34 billion in 9M’2023 from N1.9 billion in the same period of 2022.

• Net cash used in operating activities stood at N68.66 billion from N44.11 billion negative cash flow year on year.

• The firm’s net cash used in investing activities stood at a negative of N4.01 billion in 9M’2023 from a negative of N5.97 billion in the same period of 2022.

• Net cash generated from financing activities dropped to N28.4 billion in 9M’2023 from N84.85 billion in the same period of 2022.

• Cash and cash equivalents stood dipped to N61.36 billion in the 9M’2023 from N98.48 billion in the same period of 2022.

Total Energies earnings per share stood at N31.87 per share, up from N36.83 per share during the reviewed period.