TotalEnergies raises fourth-quarter share buybacks to $2.5 billion

By Reuters News

Sept 28 (Reuters) - TotalEnergies TTEF.PA said on Monday it was increasing fourth-quarter share buybacks to $2.5 billion, up from $1.5 billion in recent quarters, as high global energy prices boost returns for oil and gas majors.

The French company also said it would buy back between $2 billion and $2.5 billion in shares in the first quarter of 2027 and increase its dividend by more than 5% annually through 2030.

TotalEnergies' profit surged this year thanks to higher oil prices, strong trading results and bigger refining margins on the back of the Iran war, with its second-quarter earnings at the highest level in nearly three years.

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