TotalEnergies lifts share buybacks and pledges over-5% annual dividend hikes through 2030

Presenting its strategy in New York, TotalEnergies disclosed that its board has authorized a $2.5 billion share buyback for the fourth quarter of 2026, with an additional $2-2.5 billion program slated for early 2027, a significant increase from the $1.5 billion approved for the previous quarter. The company also adopted a dividend policy to raise payouts by more than 5% each year from 2026 through 2030 and confirmed a commitment to return at least 40% of cash flow to investors.

It expects its debt-to-equity ratio to fall below 10% by year-end, down from 13.1% in June. Elevated oil prices, with Brent averaging $103.8 per barrel, helped TotalEnergies post adjusted net income of $6 billion in Q2, and its stock gained roughly 2% on the news. The firm reiterated plans to grow oil and gas output by 3-4% annually and to expand electricity generation, aiming for electricity to represent a quarter of its energy mix by 2035. It also reaffirmed its goal of halving direct and energy-related emissions from oil and gas activities by 2030 compared with 2015.