ROYAL DUTCH SHELL PLC SECOND QUARTER 2020 PRESS RELEASE

[idpickering]

“Shell has delivered resilient cash flow in a remarkably challenging environment. We continue to focus on safe and reliable operations and our decisive cash preservation measures will underpin the strengthening of our balance sheet.

Our high-quality integrated portfolio, disciplined execution and forward-looking strategy enable sustained competitive free cash flow generation.”

Royal Dutch Shell Chief Executive Officer, Ben van Beurden

DECISIVE ACTIONS AND STRONG PERFORMANCE DELIVER CASH

•Robust operational delivery across the portfolio. Very strong crude and oil products trading and optimisation results and resilient Marketing performance.
•On track to deliver cost reduction targets: ◦Underlying opex reduced by $1.1 billion compared with Q1 2020; delivering reduction target of $3 - $4 billion.
◦Cash capex reduced by $1.4 billion compared with Q1 2020; manage cash capex to $20 billion or lower in 2020.

•Impairments of $16.8 billion post-tax (6.1% of average capital employed), reflecting revised price and margin assumptions.

https://www.investegate.co.uk/royal-dut ... 0100H9984/

And issued separately, this on dividends;

The Hague, July 30, 2020 - The Board of Royal Dutch Shell plc (“RDS” or the “Company”) today announced an interim dividend in respect of the second quarter of 2020 of US$ 0.16 per A ordinary share (“A Share”) and B ordinary share (“B Share”).

The pound sterling and euro equivalent dividend payments will be announced on September 8, 2020

Ex div 13 Aug 20, paid 21 Sep 20.

https://www.investegate.co.uk/royal-dut ... 0200H9982/

[Dod101]

Thanks Ian. I guess this is the new norm for Shell; a repeat of the reduced 1st quarter dividend. Still, the results sound OK even although they are still dealing with impairments and slightly increased borrowings.

Dod

[idpickering]

Thanks Ian. I guess this is the new norm for Shell; a repeat of the reduced 1st quarter dividend. Still, the results sound OK even although they are still dealing with impairments and slightly increased borrowings.

Dod

You're welcome Dod. I guess you're right. I'm happy to hold, but having topped up three times this year, I might not be buying more soon.

Ian.

[Adamski]

Looks like they've cut back on opex and capex a lot which is what you'd expect. Gives the impression of a well managed company, and I'd expect big returns when the economy eventually rights itself. However this is increasingly looking like next year rather than the hoped for V shaped recovery. Forward Dividend yield on today's prices still good, but not much comfort for shareholders prior to the crash.