Total could buy back shares once cash flow covers dividend - CEO
Reuters
Published Nov 24, 2017 12:52
Total could buy back shares once cash flow covers dividend - CEO
PARIS (Reuters) - French oil and gas major Total (PA:TOTF) could launch a share buy-back programme once its cash flow can cover dividend, Chief Executive Officer Patrick Pouyanne said on Friday.
"From 2019 and at $50 per barrel our cash flow could cover our dividend entirely," Pouyanne told shareholders during an annual gathering in Paris.
"In 2018, it will depend on the price of crude," Pouyanne said, adding that once that happens, the group would be in a position to launch a share buy-back programme.
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Written By: Reuters
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