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Shareholders okay Total’s new identity, sue for increased dividend

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Shareholders of Total Plc have unanimously endorsed the firm’s resolution to change its identity to TotalEnegies, even as the company moves to anchor its business on a broad energy company strategy.

At the company’s extraordinary yearly general meeting held in Lagos, the shareholders expressed optimism that the name change would boost the firm’s profitability and increase shareholders’ value.

Specifically, the Founder of Independence Shareholders Association of Nigeria, Sunny Nwosu urged the management to ensure that every segment of the business contributes to the overall growth of the company.

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He also stressed the need for the company to stay ahead of trends and remain competitive in the industry. Also, the President of Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare commended the management for the smooth running of the affairs of the company, especially their dividend policy, urging them to ensure that all the segments are profitable.

Managing Director, Imrane Barry said the transformation would enable the company to produce and market energy on a global scale in oil and biofuels, natural gas and green gases, renewables and electricity.

According to him, the name change is in conformity with the firm’s determination to become one of the world’s top five in renewables by 2030.

“Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies. This new name and new visual identity embody the course TotalEnergies has resolutely charted for itself.

He said TotalEnergies would be a broad energy company committed to producing and providing energies that are ever more affordable, reliable and clean.

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