Shell Boosts Dividend By 15% & Discloses $5B Share Buyback Ahead Of Investor Day
Portfolio Pulse from Lekha Gupta
Shell PLC (NYSE:SHEL) announced a 15% increase in dividend per share effective Q2 2023 and a share repurchase of at least $5 billion for H2 2023. The company plans to maintain stable oil production until 2030 and enhance its Integrated Gas business. Shell also aims to cut annual operating costs by $2-$3 billion by 2025 and targets net-zero emissions by 2050.
June 14, 2023 | 9:40 am
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Shell announced a 15% dividend increase and a $5 billion share buyback. The company plans to maintain stable oil production until 2030 and targets net-zero emissions by 2050.
The announcement of a 15% dividend increase and a $5 billion share buyback is likely to have a positive short-term impact on Shell's stock price. The company's commitment to maintaining stable oil production and targeting net-zero emissions by 2050 may also be viewed positively by investors, as it demonstrates a long-term strategy for growth and sustainability.
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