Total plans to hike dividends by 10% over the next three years and repurchase up to $5 billion worth of shares, demonstrating confidence in cash-flow generation as oil prices recover and the company benefits from cost-cutting and restructuring measures. The French major posted a 19% year-on-year increase in fourth-quarter adjusted earnings to $2.9 billion. The result also exceeded the $2.7 billion it earned the third quarter, as Total maintained positive profit momentum through the end of 2017, even as some rivals like Exxon Mobil and Chevron have stumbled (IOD Feb.5'18).
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