TotalEnergies plans 5% annual dividend growth through 2030

TotalEnergies SE, the global energy group, plans to increase its dividend by more than 5% annually through 2030 as it targets higher energy production and free cash flow over the period.

The company disclosed this on Monday, September 28, 2026, in its 2026 Strategy and Outlook presentation released as its Chairman and CEO, Patrick Pouyanné, and members of the Executive Committee presented the group’s strategy and outlook in New York.

The company said its Board of Directors adopted the new dividend policy on September 27, 2026, covering financial years 2026 to 2030, while also confirming shareholder returns of at least 40% of cash flow and continued deleveraging.

TotalEnergies targets 5% dividend growth

TotalEnergies said the new dividend policy reflects its confidence in its ability to deliver production and free cash flow growth by 2030. The policy covers financial years 2026 to 2030 and is accompanied by a target to keep the company’s gearing ratio below 10%.

• “Confident in the Company’s ability to deliver production and free cash flow growth by 2030, the Board of Directors adopted on 27th September 2026 a dividend policy to increase the dividend by more than 5% per year for financial years 2026 to 2030,” TotalEnergies said.
• “Furthermore, the Board confirms a shareholder return of at least 40% of cash flow while deleveraging the Company, with a gearing ratio lower than 10%,” the company said.

The board authorised $2.5 billion in share buybacks for the fourth quarter of 2026. It also authorised between $2 billion and $2.5 billion in share buybacks for the first quarter of 2027.

TotalEnergies expects its gearing ratio to fall below 10% by the end of 2026, as the company combines shareholder returns with efforts to reduce leverage.

TotalEnergies targets higher production

TotalEnergies said its global oil and gas portfolio provides a base for maintaining production of around 3 million barrels of oil equivalent per day through 2035. The portfolio includes projects in Nigeria, Namibia, Libya, Malaysia, Mozambique and Papua New Guinea.

• The company is targeting 2% to 3% annual oil and gas production growth between 2030 and 2035.
• Exploration and the development of discovered resources are expected to support this production growth.

In Nigeria, TotalEnergies and its partner AMNI have taken the Final Investment Decision for the development of the Ima gas field. The Ima gas field is located across the OML 112 and 117 offshore licences, with the shallow-water project to be developed with a single platform connected by a 22-kilometre pipeline to Nigeria LNG.

Production from the Ima gas field is expected to begin in 2028, reaching a plateau of 350 million cubic feet per day, equivalent to more than 60,000 barrels of oil equivalent per day.

TotalEnergies Nigeria returns to profit

TotalEnergies Marketing Nigeria Plc recorded stronger second-quarter results in 2026, with revenue rising 22% year-on-year to N246.81 billion. Profit after tax also returned to N3.78 billion from a N2.74 billion loss in the second quarter of 2025.

• For the first half of 2026, the company recorded revenue of N443.99 billion and profit after tax of N4.95 billion, compared with a N2.86 billion loss in the same period of 2025.

Despite the improved financial performance, TotalEnergies Marketing Nigeria shares fell 10% on Friday, September 25, 2026. The decline contributed to a 0.13% fall in the NGX Oil and Gas Index a day after the index reached a record high.