09/05/2024 by OilStoreAdministrator
France based TotalEnergies has been ranked the top firm in Europe for the portion of share capital that is held by its workers, thanks to its proactive policies.
At the end of last year, 7.4% (€11 billion) of the company’s total €149 billion share capital was held by the 65% of its employees with shares, making them the biggest shareholder group. Some €525 million was paid to employees in dividends last year.
Nevertheless, TotalEnergies, which makes the Total coolant and metalworking products, wants to go further.
It says it believes that the most effective way to engage the workforce with its transition strategy is to extend employee share ownership. The company’s CEO and Chairman, Patrick Pouyanné, said in a statement:
“Making every one of our 100,000 employees a TotalEnergies shareholder, with an amount of such magnitude, is a unique initiative for a company of our size. It demonstrates our commitment to employee shareholding, which is at the heart of our value sharing policy.”
The company’s Board of Directors has therefore approved new initiatives to extend employee share ownership.
First, to celebrate the company’s 100th anniversary, 100 shares in the company will be allocated to every one of its 100,000 employees around the world, subject to a five-year presence. It says this will be the most significant universal grant that it has ever made.
Furthermore, the share capital available for employees and former employees will be increased, with the discount also being increased from the 20% last year to 30%.
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