November 24, 2017 / 12:52 PM / a year ago

Total could buy back shares once cash flow covers dividend - CEO

Total Chief Executive Officer Patrick Pouyanne speaks during the launching of Total Spring in Paris, France, October 5, 2017. REUTERS/Charles Platiau

PARIS (Reuters) - French oil and gas major Total (TOTF.PA) could launch a share buy-back programme once its cash flow can cover dividend, Chief Executive Officer Patrick Pouyanne said on Friday.

“From 2019 and at $50 per barrel our cash flow could cover our dividend entirely,” Pouyanne told shareholders during an annual gathering in Paris.

“In 2018, it will depend on the price of crude,” Pouyanne said, adding that once that happens, the group would be in a position to launch a share buy-back programme.

Reporting by Bate Felix; Editing by Geert De Clercq

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