Sydney, March 3, 2026, 17:45 AEDT — After-hours
- Santos ended the session 0.97% higher, finishing at A$7.28 and sticking close to its intraday peak.
- Oil pushed higher, driven by fresh worries over Middle East supply risks, keeping energy stocks in the spotlight.
- Santos revised its FX rates tied to the US-dollar final dividend, while a director disclosure pointed to new on-market purchases.
Santos Ltd shares finished up on Tuesday, lifted by another surge in oil prices as markets considered potential supply threats in the Middle East.
Shares finished the day at A$7.28, up 0.07 Australian dollars, or 0.97%. Prices shifted between A$7.09 and A$7.30 throughout the session. For the past 52 weeks, the stock has moved between A$5.20 and A$8.06.
The reason this is in focus right now? Crude’s back in the driver’s seat for the sector, and Santos offers local investors a straightforward way to play that shift. When oil prices start swinging, they tend to drown out any company-level headlines—at least for a while.
Brent crude advanced for a third straight session Tuesday, climbing 2.2% to $79.44 a barrel, fueled by escalating U.S.-Israeli tensions with Iran and renewed worries over shipping security in the Strait of Hormuz. U.S. WTI traded at $72.40, up 1.6%. About a fifth of global oil and gas moves through the strait, according to Reuters. “With no quick de-escalation in sight, upside risks remain,” IG analyst Tony Sycamore said in a note. Reuters
Santos released a new dividend notice, detailing the exchange rates for converting its 2025 final dividend into various payment currencies, according to an ASX filing. The final dividend stands at 10.3 U.S. cents per share, payable March 25. In the filing, Santos put the Australian-dollar equivalent at A$0.14505154 per share and specified the conversion rates for Australian dollars, British pounds, and Papua New Guinean kina. Dividends are determined and declared in U.S. dollars, the company said, with payment currency depending on shareholder elections and location.
Australian investors saw confirmation in the filing that the dividend remains unfranked, so there aren’t any Australian tax credits attached. It covers the six months up to Dec. 31, 2025.
Non-executive director Vanessa Guthrie picked up 5,500 Santos shares on Feb. 24, paying an average A$6.84 per share, according to a separate director notice. That brings her indirect stake to 44,688 shares.
Santos shares look set to move with the latest oil news, while the currency angle isn’t far behind—plenty of holders eye the U.S. dollar dividend and how that converts into Australian dollars.
That leverage isn’t a one-way street. If tensions ease or shipping lanes reopen, crude could just as easily retreat, cooling off the sector and erasing the rally that’s sent the stock climbing toward its recent highs.
Eyes now shift to overnight action in Brent and WTI, plus any new updates on Gulf shipping or insurance. Looking ahead, Market Index has Santos’ quarterly report slated for April 16.
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