Shell to raise dividends on double earnings growth

Shell published results third quarter. Its profit for the reporting period amounted to $9.5 billion, which is more than double the same indicator of the third quarter of 2021.

In general, in the first three quarters of this year, Shell’s profit reached $ 30.5 billion, so the company can break the previous record for annual profit: in 2008 this figure was $ 31 billion. Meanwhile, according to experts, Shell’s profit could be even higher However, the results were affected by lower oil refining and gas sales, which the company attributes to “a combination of seasonality and supply issues coupled with significant discrepancies between paper and physical sales in a volatile and upset market.”

Presenting the results, Shell’s management said it intends to increase its dividend per share by approximately 15% in the fourth quarter of this year, payable in March 2023. In addition, a new $4 billion share buyback program has been announced and is due to be completed by the end of the next reporting period. Shell shares react to the publication of financial statements by growth of about 4%. Since the beginning of the year, the company’s shares have grown by 40%.

Alena Miklashevskaya