Big Oil Companies Dividend: Five big companies of the world have given good news to the people in the new year. These five big companies will distribute dividend of about 100 billion dollars among the shareholders. These five companies continue to be criticized all over the world. But, the pockets of their shareholders are always full. Let us know which are those companies which, despite being in constant controversies, are earning so much profit and also keep their shareholders happy.
Their methods keep falling prey to criticism
We are talking about the world’s leading oil companies BP, Shell, Chevron, ExxonMobil and Total Energies. Their business is spread in many countries of the world. It handles all the work from crude oil production to refining. There is opposition to them due to many reasons like the methods adopted by them in the crude oil business and the damage caused to the environment by the projects.
Dividend of $104 billion was given in 2022
Now The Guardian has published a report quoting the Institute for Energy Economics and Financial Analysis (IEEFA) that these companies can distribute about $ 100 billion dividend to their shareholders by 2023. These companies had also made dividends and share buybacks worth about $104 billion in 2022.
Record rise in Brent crude and gas prices in Europe
According to the report, due to Russia’s attack on Ukraine, last year was a year of great upheaval for oil and gas companies. Brent crude rates increased rapidly and gas prices in Europe recorded a record increase. IEEFA analyst Trey Cowan said that despite lower profits due to falling commodity market prices, companies may pay even higher dividends this year. These five giants can create records in share buyback and dividend giving. This figure could exceed the $104 billion spent during 2022.
Companies have planned buyback and dividend
Shell had revealed plans to distribute a $23 billion dividend in November even though the company’s profit has declined. This amount is 6 times more than the company’s expenditure on green energy. Shell had a profit of $40 billion in 2022. BP had already announced to give 10 percent dividend. Chevron has planned a share buyback of $75 billion and Exxon Mobil has planned a share buyback of $50 billion.
read this also
LIC GST Notice: Big blow to LIC, got GST notice of Rs 806 crore, government company will file appeal
