Total Removes Discount on Scrip Dividend

By Marc Navarro GonzalezFeaturesDow Jones Newswires

Total SA (FP.FR) said Tuesday that its board of directors has removed the discount offered for new shares to be issued as payment of the second interim dividend of the year, a move that sets the price for new shares at 46.55 euros ($54.86).

Shareholders have the option to receive the dividend in cash or in new shares of the company, it added.

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The French energy group said the discount is the result of current oil prices--above $60 a barrel--and its performance in terms of cash-flow generation.

The ex-dividend date for the second interim dividend is set for Dec. 19, the company said.

Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

(END) Dow Jones Newswires

December 12, 2017 13:22 ET (18:22 GMT)