Equinor on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double its previous record thanks to soaring gas prices and with fourth-quarter results beating analysts' expectations.
Gas prices have tumbled in the new year, however, and Equinor's Oslo-listed stocks have fallen 15% year-to-date, underperforming a 1% rise in European petroleum stocks"On the back of strong earnings, outlook, and balance sheet, we step up capital distribution to expected $17 billion in 2023," Chief Executive Anders Opedal said in a statement.
Equinor said it would pay a regular quarterly dividend of $0.30 per share, up from $0.20, and make an additional, extraordinary payment of $0.60 per share for four consecutive quarters, totalling about $11 billion in dividends this year. Equinor's overall oil and gas production fell by 2% year-on-year to 2.04 million barrels of oil equivalent per day in 2022 but is expected to grow by 3% in 2023, the company said.
Equinor's previous adjusted earnings record amounted to $36.2 billion in 2008, when the price of North Sea oil rose to record highs.
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