BAKU, Azerbaijan, March 9. Royal Dutch Shell plans its cash capital expenditure (capex) in 2023 at $23-27 billion, Trend reports with reference to the company.
“Our capital framework target is a distribution of at least 20-30% of cash flow from operations to shareholders and we may choose to return cash to shareholders through a combination of dividends and share buybacks,” Shell said in its latest report.
The company intends to increase the dividend per share by around 4 percent per year.
“When setting the level of shareholder distributions, the Board looks at a range of factors, including the macro-environment, the underlying business earnings and cash flow of the Shell Group, the current balance sheet, future investment, acquisition and divestment plans and existing commitments,” said Shell.
The country announced a growth of its dividend per share of 15 percent for Q4 of 2022 as part of its progressive dividend policy.
“Portfolio allocation affects our ability to deliver on targets we have made, and socio-economic, political and market factors sometimes change our outlooks. Existing global targets are currently under review. While no decisions have been made, to ensure our transition to a net zero energy business is profitable, it is likely that some business targets may be retired, as part of normal strategy evolution and mindful of existing capital allocation in the latest operating plan,” reads the report.
Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals.
Follow the author on Twitter: @Lyaman_Zeyn