(BFM Stock Exchange) – The French subsidiary of Exxon Mobil will offer its shareholders an exceptional dividend of 50 euros, in addition to an ordinary coupon of 3 euros for the results of 2024. This translates a generous yield of almost 40% and delights the scholarship which passes the sponge on 2024 degraded results.

“Essoooo, full of gifts”. Changed by chicks in their nest, this flagship slogan of the 90s – which marked many people – was brought up to date by the French subsidiary of Exxon Mobile this Wednesday, March 19.

The oil company has announced that it planned to distribute an exceptional dividend of 50 euros per share, in addition to an ordinary coupon of 3 euros, for financial performance of 2024. In total, ESSO therefore plans to pay a coupon of 53 euros, whose payment is scheduled for July 10.

This distribution exteriorizes a generous yield of 38.13% on the basis of the closing course of Wednesday of 139 euros.

On the Paris Stock Exchange, Esso’s decision is welcomed. At the top of the SBF 120, the title of the oil group increased by 14.2% to 158.80 euros around 2:50 p.m., after having flambé by 21.9% in the first exchanges.

Decrease 2024 results

Esso delivered these announcements despite a drop in its results in 2024. Last year, the group’s turnover declined by 7% over one year to 17.9 billion euros. Esso attributes this drop in its activity by decline in petroleum products prices sold over the period. Sales of refined products have indeed decreased by 2% to 22.2 million m3 (cubic meters) in 2024.

The gross operating result (EBITDA) adjusted (excluding stock effects, transfer of the Fos-sur-Mer refinery and other adjustment elements) drops to 58 million euros against 964 million euros in 2023. According to Esso, this indicator reflects the significant drop in refining margins observed in the second semester 2024, with a return to historical levels and this after “two years”.

The group’s net profit fell clearly to land at 107 million euros for 2024, against a profit of 677 million in 2023.

Regarding its prospects, ESSO says it proceeds at the beginning of 2025 to stop for scheduled maintenance of certain units of the Gravenchon refinery. The group also plans to invest around 110 million euros this year “to prepare for the future”.

These are “energy consumption reduction projects and diversification of its production to higher added products”, explained Charles Amyot, president and managing director of Esso.