"We are stepping up our shareholder distributions today, increasing dividends and starting share buybacks, while we continue to invest for the future of energy. The quality of Shell’s operational and financial delivery and strengthened balance sheet have given the Board confidence to rebase the dividend per share from Q2 2021 onwards to 24 US cents. We are also launching $2 billion of share buybacks, which is targeted to be completed by the end of this year.
Total shareholder distributions for 2021 are expected to be around the middle of the 20-30% range of CFFO from the previous four quarters. Our progressive dividend policy to grow dividends per share by 4% annually, subject to Board approval, remains unchanged."
Royal Dutch Shell Chief Executive Officer, Ben van Beurden
STEPPING UP DISTRIBUTIONS TO OUR SHAREHOLDERS
•Another quarter of strong operational and financial delivery, with $14.2 billion CFFO excl. WC and $5.5 billion Adj. Earnings.
•Shell moves to the next phase of the capital allocation framework, consistent with our Powering Progress strategy: ◦Dividend rebased to 24 US cents per share, an increase of over 38% from Q1 2021; maintaining ~4% annual growth
◦Share buybacks targeted at $2 billion in the second half of 2021
◦Targeting AA credit metrics through the cycle; $65 billion net debt milestone retired
•Disciplined cash capex: remains below $22 billion in 2021.
https://www.investegate.co.uk/royal-dut ... 0100H8784/
Issued separately;
Royal Dutch Shell plc second quarter 2021 interim dividend
Chair of the Board of Royal Dutch Shell, Sir Andrew Mackenzie commented: "Shell's proven and sustainable cash generation across a range of macroeconomic scenarios has provided the Board confidence to increase shareholder distributions. As a result, the Board has decided to rebase the dividend per share to 24 US cents from the second quarter 2021 onwards."
Cash dividends on B Shares will be paid, by default, in pounds sterling, although holders of B Shares will be able to elect to receive dividends in US dollars or euros.
The pound sterling and euro equivalent dividend payments will be announced on September 6, 2021
Ex Div 12 Aug 21, paid 20 Sep 21.
https://www.investegate.co.uk/royal-dut ... 0200H8786/
And;
Shell announces commencement of share buybacks
Royal Dutch Shell plc (the ‘company’) today announces the commencement of share buybacks as part of its move to the next phase of its capital allocation framework, which includes shareholder distributions in a range of 20-30% of CFFO. The company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares for a period up to and including December 29, 2021. The aggregate maximum consideration for the purchase of A ordinary shares and/or B ordinary shares is $2.0 billion, of which it is expected that more than half will have been completed by the company’s Q3 results, which are scheduled for October 28, 2021. The purpose of the share buybacks is to reduce the issued share capital of the company. All shares repurchased as part of this arrangement will be cancelled.
https://www.investegate.co.uk/royal-dut ... 0300H8780/
Phew,
Ian.
