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Money News

Total cuts investment target, keeps dividend amid pandemic

FILE PHOTO: The logo of French oil and gas company Total is seen at a petrol station in Neuville Saint Remy, France, October 1, 2020. REUTERS/Pascal Rossignol

PARIS (Reuters) - French oil and gas major Total TOTF.PA on Friday again trimmed its investment target for 2020 as the coronavirus crisis bit, though the group returned to profit in the third quarter and maintained its dividend.

The company reported net income of $202 million, down 93% from a year earlier while adjusted net income fell 72% to $848 million.

Reporting by Benjamin Mallet, writing by Sarah White; editing by Jason Neely

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