Total Q2 Profit Declines On Lower Production; Hikes Dividend - Quick Facts

(RTTNews) - French oil and gas giant Total SA (TTA.L, TTFNF.PK, TOT) reported second-quarter net income of $3.1 billion, down 8 percent from last year's $3.36 billion.

For the quarter, adjusted net income, which excluded items, was $3.15 billion or $1.38 per share, compared to $3.58 billion or $1.57 per share in the prior year.

In euro terms, adjusted earnings per share was 1 euro, compared to 1.21 euros a year ago.

Sales for the quarter increased 2 percent to $62.56 billion from prior year's $61.35 billion.

Hydrocarbon production was 2,054 kboe/d in the second quarter, down 10 percent from last year. Liquids production declined 15 percent and gas production fell 5 percent from the prior year.

"Going forward, we are fully mobilized and focused on starting up the next set of operated projects. In addition, the final investment decisions to launch Kaombo in Angola and Edradour in the UK, approved only after rigorous cost reductions, illustrate the Group's capital discipline and strengthen its production profile through 2017," the company said in its statement."

Separately, the company's Board of Directors approved a second quarter 2014 interim dividend of 0.61 euros per share, an increase of 3.4 percent from the prior year.