TotalEnergies Raises Fourth-Quarter Share Buybacks to $2.5 Billion
TotalEnergies said on Monday it would increase its share buybacks in the fourth quarter as higher global energy prices bolster earnings across the oil and gas industry.
The company plans to repurchase $2.5 billion of its shares during the quarter, up from $1.5 billion in previous quarters.
The increase amounts to an additional $1 billion directed toward buybacks, which are one way companies return money to shareholders.
The move comes against a backdrop of rising energy prices that is supporting profits at major oil and gas producers, including TotalEnergies.
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