Woodside Shares Rise as Dividend Lift Outweighs Profit Drop

Woodside Energy Group Ltd.’s shares advanced after Australia’s largest oil and gas company raised its dividend, despite a slump in profit.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Woodside Energy Group Ltd.’s shares advanced after Australia’s largest oil and gas company raised its dividend, despite a slump in profit.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The company’s stock rose as much as 1.5% in early Sydney trading to a 17-month high. The energy firm will pay a final dividend of 59 US cents a share, up from 53 cents a year earlier, it said Tuesday after reporting a 24% slump in annual net income to $2.7 billion. Woodside’s long-term strategy faces uncertainty after the shock departure of Chief Executive Officer Meg O’Neill in December. However, the transition is unlikely to impact near-term performance, according to Bloomberg Intelligence analyst Anthony Chen.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Total oil and gas production rose more than 6% to a record 198.8 million barrels of oil equivalent, Woodside said Tuesday. That helped offset a drop in the average realized price of 5% to $60 a barrel of oil equivalent. The higher output came after the start of the Beaumont ammonia plant in Texas last year and the taking of a final investment decision on Louisiana LNG, which is set to load its first shipment in 2029. The Scarborough project in Australia is 94% complete and on track to deliver its first liquefied natural gas cargo in the fourth quarter, while the Trion field in Mexico remains on target for first oil in 2028. “Woodside’s objectives for 2026 are clear: ramp up Beaumont; deliver first LNG cargo from Scarborough; and continue progressing Louisiana LNG and Trion to schedule and budget,” Acting CEO Liz Westcott said in a statement.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.