Equinor Reports 22 Percent Profit Drop and Shifts Capital Allocation Strategy
Equinor reported a 22 percent profit decline and announced a cut to share buybacks. The firm is lowering renewable investment while raising its dividend.
Insights:
Equinor ASA reported a 22 percent decline in fourth-quarter profit while announcing a significant reallocation of its capital. The company, which is majority owned by the state of Norway 
NO, confirmed it would reduce investment plans in its power and low-carbon businesses alongside a large cut to its share buyback program. Despite the drop in earnings, the company maintained near-term capital discipline and raised its quarterly dividend.
NO, confirmed it would reduce investment plans in its power and low-carbon businesses alongside a large cut to its share buyback program. Despite the drop in earnings, the company maintained near-term capital discipline and raised its quarterly dividend.
