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ExxonMobil posts record 40.6-billion-dollar profit in 2007
NEW YORK – Oil giant ExxonMobil set a new record annual profit for a US company with 2007 earnings of 40.6 billion dollars, amid surging prices for crude, company figures showed Friday.
The net profit was three percent higher than a year ago when the biggest US oil and gas firm reported a 2006 annual profit of 39.5 billion dollars, which had prompting ire over US policies said to favor big oil firms.
Earnings per share jumped by 10 percent to 7.28 dollars from 2006, reflecting a program of share buybacks, the company said in a statement.
Full-year dividends increased by seven percent to 1.37 dollars.
The company distributed a total of 35.6 billion dollars to shareholders in 2007 through dividends and share purchases to reduce shares outstanding, up 3.0 billion dollars from 2006.
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