Total Chm: Board Mulls Setting '09 Interim Dividend At EUR1.14/Share
May 15 2009 - 5:38AM
Dow Jones News
Oil major Total SA's (TOT) Chairman Thierry Desmarest Friday
said the company's board is considering setting the interim
dividend for 2009, to be paid in the fourth quarter, at the same
level as for 2008: EUR1.14 per share.
The board "is thinking" of keeping the interim payment at the
same level, having analyzed the market environment, he said, in a
speech to the company's annual general meeting of shareholders.
A dramatic fall in oil prices since they hit record highs in
July 2008 has put oil majors' cashflows under relative
pressure.
But analysts say Total is well-positioned to keep up investment
and dividends due to a competitive cost-base and to the large stake
it has in pharmaceutical company Sanofi Aventis SA (SNY), and which
it is selling down slowly.
-By Adam Mitchell, Dow Jones Newswires; +33 1 40171740;
adam.mitchell@dowjones.com