“maintaining a relatively flat annual common dividend declaration of $6.48 per share or approximately $3 billion in 2024, with an expectation to resume growth again in 2025, all subject to Board approval.”

In context

“stockholders by $40 million at the midpoint and approximately $0.09 on a per share basis, moving the midpoint to $10.42, supported by the revised Indian reserve assumption benefits, partially offset by FX. As I mentioned, although we are raising expectations for interest expense, it is offset on a net basis by a similar increase in interest income. Turning to Slide 11. We are reiterating our capital allocation plans for 2024, which is focused on selectively funding projects we expect to drive the most attractive risk-adjusted rates of return, sustained growth and quality of earnings, executing on an accelerated pathway to balance sheet strength and financial flexibility and delivering an attractive total shareholder return profile as discussed on our Q4 2023 earnings call. This includes maintaining a relatively flat annual common dividend declaration of $6.48 per share or approximately $3 billion in 2024, with an expectation to resume growth again in 2025, all subject to Board approval. Moving to the right side of the slide, our disciplined approach to capital allocation, together with recurring topline growth and its high conversion to profitability through cost management, all support the progress we've made to achieving our goal of 5x net leverage by the end of the year. While our Q1 net leverage already stands at 5x, it is important to note that the metric for this quarter benefits from the Indian reserve reversals previously mentioned, and we'd expect to be above 5x in Q2. These efforts, combined with our successful capital markets execution year-to-date, have further reinforced our investment-grade balance sheet as a strategic asset, which will remain a key focus moving forward. Turning to Slide 12. And in summary, we are off to a great start to 2024. Our visibi”