Trafigura hands out $1.7bn in dividends on profits fuelled by Ukraine war
- Editor
- Dec 8, 2022
- 1 min read
Summary: In the wake of Russia’s invasion of Ukraine and ensuing energy market chaos, Trafigura reported record profits of $7 billion for the year ending September 2022. This marked the highest annual net profit in its history, more than the prior four years combined. Revenues rose to $318.5 billion, driven by extreme volatility in oil, gas, and metals markets. The firm distributed $1.7 billion in dividends to its 1,100 shareholders, equating to roughly $1.56 million each. Trafigura’s leadership emphasized that its employee-owned model encouraged long-term risk management and resilience. While oil majors have faced windfall taxes, commodity traders like Trafigura remain largely untouched by regulators. CEO Jeremy Weir acknowledged future turbulence as global inflation and geopolitical instability persist.
Source: The Guardian
