shell resumes allcash dividend as oil price recovers
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Shell resumes all-cash dividend as oil price recovers

Arab Today, arab today

Arab Today, arab today Shell resumes all-cash dividend as oil price recovers

Shell's chief executive "Ben van Beurden has delivered an early Christmas present
London - Arab Today

Royal Dutch Shell (LSE: 0LN9.L - news) on Tuesday announced plans to resume all-cash shareholder dividends, as group profitability improves thanks to recovering oil prices and cost-cutting.

The announcement to scrap the three-year old scrip dividend programme, that saw payments made in cash and shares, was made alongside news that the Anglo-Dutch group has raised its cash flow outlook and a target for reducing Shell (LSE: RDSB.L - news) 's carbon footprint.

It meanwhile confirmed a share buy-back programme of at least $25 billion (21 billion euros) through to 2020, subject to its progress with reducing debt and further recovery in oil prices.

Shell said in a statement that "the strength of its balance sheet, coupled with stronger cash flow and a relentless focus on capital efficiency, discipline and flexibility, have given the company the confidence to cancel the scrip dividend programme".

It meanwhile raised its annual cash flow to between $25 billion and $30 billion, up $5.0 billion.

Shell's chief executive "Ben van Beurden has delivered an early Christmas present for Shell shareholders", noted Nicholas Hyett, equity analyst at stockbroker Hargreaves Lansdown (Frankfurt: DMB.F - news) .

"Improved cash generation has allowed the group to scrap the scrip dividend, with the debt position improving steadily as well. The extra shares issued under the scrip are set to be swept back up by a $25-billion share buyback over the next three years."

Shares (Berlin: DI6.BE - news) in Shell rallied more than three percent as investors welcomed the news, helping to guide the London stock market higher.

Shell and its rivals are benefitting from a recovery in oil prices, with Brent North Sea crude recently hitting a two-year high above $60 per barrel.

The company is meanwhile set to benefit from a controversial decision by the Dutch government to scrap a tax on dividends to help retain and promote foreign investment in The Netherlands.

Dutch Prime Minister Mark Rutte has cited Brexit as one of the most important reasons for the country to remain an attractive place of business for foreign companies and shareholders -- and has proposed to axe the 15-percent tax.

But Rutte and his four-party coalition government have come under fire from opposition parties for deciding to cancel the dividend tax in 2019.

Source:AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shell resumes allcash dividend as oil price recovers shell resumes allcash dividend as oil price recovers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shell resumes allcash dividend as oil price recovers shell resumes allcash dividend as oil price recovers

 



GMT 20:28 2017 Monday ,13 February

EgyptAir to receive second next-generation Boeing

GMT 05:13 2017 Thursday ,16 February

Central bankers take up arms against protectionism

GMT 12:53 2017 Friday ,13 October

S&P warns of Catalan recession if crisis drags

GMT 13:37 2017 Thursday ,16 March

Smith leads Australia's revival in Ranchi test

GMT 18:39 2017 Tuesday ,11 April

Comedian John Bishop returns to Dubai

GMT 21:08 2017 Tuesday ,31 January

Motorcity honoured as ‘Distributor Champion’

GMT 00:14 2017 Tuesday ,28 February

Mohammad receives Pakistani Chief of Army Staff

GMT 23:37 2017 Tuesday ,15 August

Civilians Killed in Deadly Blast in Afghanistan

GMT 08:27 2011 Tuesday ,07 June

3 women charged with robbing vets\' graves

GMT 20:01 2014 Wednesday ,10 December

27 hard questions you need to ask

GMT 16:44 2017 Monday ,25 December

DFM welcomes listing of AWTAD on "Second Market"

GMT 23:23 2017 Sunday ,24 December

Abdullah bin Zayed meets Canada's Minister of Defence

GMT 18:44 2016 Sunday ,04 September

Israel Strikes Northern Gaza Strip

GMT 18:17 2012 Friday ,18 May

Carmen Suleiman hits the books

GMT 09:32 2017 Wednesday ,20 December

Gayeon Lee appoints Dyelog

GMT 06:39 2014 Monday ,01 September

May 21 - June 20
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday