TotalEnergies Celebrates 100-Year Anniversary with Employee Share Gift

Published 4 hours agoTTE

TotalEnergies Celebrates 100-Year Anniversary with Employee Share Gift

TotalEnergies has taken a significant step towards fostering employee ownership by launching an employee share purchase plan aligned with its 100-year anniversary. The company announced that as part of a Universal Share Grant, each of the company's 100,000 employees worldwide will receive 100 TotalEnergies shares. The distribution, which marks the largest universal grant in the company’s history, was approved by the Board of Directors and is set to take place on April 25, 2024. Employees on record as of March 28, 2024, will have these shares, which will be definitively acquired after five years.

Additionally, TotalEnergies is pushing forward with a capital increase reserved specifically for employees and former employees. Shares are offered at a discounted subscription price of €46.90, reflecting a 30% reduction compared to the recent average closing price of the company’s shares on Euronext. Reuters reported that this is complemented by the ongoing annual performance share allocation plan, whereby employees receive shares based on their performance metrics.

TotalEnergies has positioned itself as a leader in employee shareholding within Europe. By the end of 2023, more than 65% of its employees were shareholders, collectively holding an impressive €11 billion of the company's total €149 billion share capital. This collaboration has resulted in employees owning 7.4% of the capital and collectively earning €525 million in dividends for 2023. The company's strategy indicates a focused commitment to aligning the interests of its workforce with its broader performance goals.

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