Shell Boosts Dividend By 15%, Maintains Oil Output Through 2030: CNBC
Portfolio Pulse from Benzinga Newsbot
Shell plans to increase shareholder returns by raising distributions to 30-40% of cash flow from operations, up from 20-30%, and executing at least $5 billion of share buybacks in H2 2021. The company also intends to maintain steady oil output until 2030, while progressing towards becoming a net-zero business by 2050.
June 14, 2023 | 12:03 pm
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Shell's dividend increase and share buybacks may boost investor confidence, while maintaining oil output and commitment to net-zero by 2050 could face criticism from activist shareholders.
Shell's decision to increase dividends and execute share buybacks is likely to boost investor confidence and positively impact the stock price in the short term. However, maintaining oil output while aiming for net-zero by 2050 may face criticism from activist shareholders, which could create some headwinds for the stock.
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IMPORTANCE 80
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