ExxonMobil and TotalEnergies: A Decade of Dividend Income Compared
TotalEnergies yields 4.7% and ExxonMobil yields 2.6%, with TotalEnergies' dividend growing 4.9% annually from fiscal 2020 to fiscal 2025 versus 2.8% for Exxon. Over the twelve months to June 30, 2026, dividends took 56% of Exxon's free cash flow and 51% of TotalEnergies', though both used 73% in fiscal 2025. Exxon is expanding Permian and Guyana production, while its dividend growth has trailed its operational growth.
TotalEnergies offers a higher starting income, 4.7% versus ExxonMobil’s 2.6%, and its payout has climbed faster since fiscal 2020. Exxon’s dividend has increased more slowly even as Permian output reached records and Guyana prepares another production vessel.
Both companies covered dividends comfortably in the year through June 30, 2026, after a tighter fiscal 2025. Middle East disruptions reduced output for each, and TotalEnergies faces weaker debt and interest metrics, while Exxon’s Qatar LNG repair may take years.
Income-focused investors, including retirees and pension funds, could feel the difference between TotalEnergies’ higher yield and ExxonMobil’s faster operational growth. If dividends absorb large shares of cash flow, companies may have less room for buybacks, debt reduction, or new energy projects, which may influence energy affordability, jobs, and local economies in producing regions. Currency moves may also affect what US shareholders receive from TotalEnergies.