SBM Offshore, a Dutch company, boosts its shareholder returns after revenue exceeds expectations

Dutch offshore oil services company, SBM Offshore, announced a 57% annual'surge' in shareholder returns on Thursday. The record was $470 million (397.80 millions euros). They also committed to return at least $2.1billion to investors within the next six years.

Amsterdam-based floating producer?said that it would pay 2.57 dollars per share via a $200 mln dividend and a 270 mln share buyback program, after a?strong performance on the operational front and a?early sale of?its FPSO ONE GUYANA to ExxonMobil.

Analysts polled for the company had expected $1.65 billion of earnings in 2025.

SBM Offshore employs directional reporting. This is a method of recording revenue before the leases begin.

The firm's directional backlog dropped to $31.1 billion by year-end. This is a?reduction from $35.1 billion a year earlier.

(source: Reuters)