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