TotalEnergies issue Ksh.1.31 dividend on slumped Ksh.2.7 billion net profit

TotalEnergies profit down 16.8% to 2.7 billion in 2021; declares Ksh.1.3 dividend payout

TotalEnergies has declared a Ksh.1.31 dividend per share for its shareholders after it posted a Ksh.2.7 billion profit for the full year ended December 31, 2021.

The profit represents a 16.8 percent drop compared to Ksh.3.2 billion the company made same period in 2020.

The net earnings slumped at the height of the coronavirus pandemic in the year under review which saw a sharp increase in global oil prices.

“The company’s performance remained resilient with positive profit after tax of Ksh.2.7 billion in the challenging environment of a sharp increase in fuel prices,” said the company in a statement Friday.

The company’s gross profit decreased to Ksh.8.8 billion from Ksh.9 billion due to lag price adjustment arising from a sharp increase in fuel prices.

Its total assets for the year grew to Ksh.47 billion from Ksh.42.9 billion a year before.

TotalEnergies directors have recommended a first and final dividend of Ksh.1.31 per share payable by June 30, 2022.

This will be subject to shareholders’ approval for the upcoming 68th Annual General Meeting (AGM) which will be held on June 24, 2022.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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