Total Beats Analysts' Earnings Estimates
Total (TOT) - Get Report posted solid fourth-quarter earnings and boosted its dividend. The France-based oil major said it would seek to buy assets in the coming year as global energy markets heat up.
Adjusted net profit for the three months ending in December rose 16% to $2.4 billion from the same period last year, the company said, even as full-year net income declined 22% on the year to $6.2 billion. The group described the performance as coming in a "difficult environment" of fluctuating oil prices but said its integrated business model allowed it to deliver "the highest profitability among the majors."
The company said it will both raise its fourth-quarter dividend 1.6% to €0.62 per share and will look for buying opportunities in the industry, given the strength of its balance sheet.
