Handout video grab released by Total shows Pouyanne delivering a speech to the group’s employees next to the logo of the future name of the company in La Defense, outside Paris, on Tuesday. – AFPPIX
Earnings fell less sharply in the fourth quarter than in the previous three months. Adjusted net income, which strips out some one off items, was down 59% from the year earlier period to US$1.3 billion, beating analysts' expectations, and in contrast with some peers including Shell. The group said it has already spent more than US$2 billion on acquisitions in the renewables sector this year, and planned to spend 20% of its investment budget for 2021 on this drive, up from around 15% in 2020.
Total said it would propose a dividend payout of €0.66 per share for the October to December period, in line with previous quarters in 2020.