Shell eyes dividend and spending boost after 2020

Shell eyes dividend and spending boost after 2020

Royal Dutch Shell on Tuesday outlined plans to increase spending and dividends after 2020 in a show of confidence by the energy company despite an uncertain outlook for oil and gas prices, reports Trend citing to Reuters

In a strategy update, the Anglo-Dutch company said it was on track to deliver its previous commitments to increase cash generation and carry out one of the world’s largest share buyback programs of $25 billion by the end of next year.

Shell, the world’s second-largest listed oil and gas company after Exxon Mobil , underwent deep cost cuts following the 2016 acquisition of smaller rival BG Group for $53 billion and the collapse of oil prices in late 2014.

Despite a slow and bumpy recovery in oil prices, it reported the largest profit among its peers last year and vastly increased its revenue from previous years.

“It is the success of our strategy and strength of our delivery today that gives us confidence for the future,” Shell Chief Executive Officer Ben van Beurden said in a statement.

Shell said its free cash flow - cash available to pay for dividends and share buybacks - is set to rise to around $35 billion per year by 2025 at a Brent crude oil price of $60 per barrel.

That compares with $28-33 billion in free cash flow it expects to deliver by the end of next year.

It said the cash delivery “creates the potential to distribute $125 billion or more to shareholders” in the form of dividends and share buybacks between 2021 and 2025.

That compares with distributions of around $90 billion between 2016 and 2020.

It expects to increase its dividend payouts to shareholders once it completes a $25 billion share buyback by the end of 2020 it had promised following the BG acquisition.

Shell, the world’s biggest dividend payer at $16 billion a year, last increased its quarterly dividend in the first quarter of 2014 to $0.47 per share.

Subscribe to Trend in Google News! Subscribe
Armenian PM calls Russia’s proposals on border delimitation with Azerbaijan acceptable
Armenian PM calls Russia’s proposals on border delimitation with Azerbaijan acceptable
France stands for launching demarcation, delimitation of Armenia-Azerbaijan borders
France stands for launching demarcation, delimitation of Armenia-Azerbaijan borders
Russian peacekeepers - guarantors of peace in Karabakh - President Putin
Russian peacekeepers - guarantors of peace in Karabakh - President Putin
Loading Bars
Latest
Uzbekistan eyes to construct new hydroelectric power plants
Azerbaijan increases cars import over 10M2021
Turkmenistan discloses amount of products sold via local commodity exchange
Iran sees increase in value of trade turnover via Mazandaran Province customs
Turkmenistan’s State Concern open tender for fertilizer plant construction
Azerbaijan doubles export of non-food products
Azerbaijan, Nepal consider signing agreement in IT sector - AIDIA CEO
Azerbaijan may help Nepal to solve cybersecurity issues - CEO of AIDIA
Those killed in crash of Azerbaijani helicopter to be buried in second Alley of Honor
Azerbaijan compiles rating of state, non-state exporters
Azerbaijan reveals sales volume via Azexport website for 10M2021
Implementation of North-South Int’l transport Corridor intensifies Azerbaijan-Iran relations - analysis
JP Morgan forecasts increase in regional oil demand
Closest place for buying a Bakcell number
Сertain countries can abandon use of LNG altogether
LNG supply expected to grow over near term – Fitch Solutions
Iran's Energy Exchange announces products to be on sale on Dec. 1
Survivors of military helicopter crash in Azerbaijan talk about incident (VIDEO)
Turkmenistan-Azerbaijan-Iran gas swap deal to open more possibilities of co-op – Rystad Energy
Azercosmos discloses its revenues from services export for 10M2021
German state reports four fully vaccinated people infected with Omicron
Azerbaijan's ASAN Visa model - best solution for Nepal's tourism sector, AIDIA CEO says
Azerbaijan holds farewell ceremony for servicemen who died in military helicopter crash (PHOTO/VIDEO)
Georgia to launch new agriculture insurance program in 2022
Turkmenistan's Turkmenbashi refinery to purchase chemicals through tender
Bodies of Azerbaijani servicemen from military helicopter crash, taken to farewell ceremony (PHOTO)
President of European Council hints at Georgia being among most reliable partners for EU
Rasht-Astara railway of great importance to Iran - Iranian official
First President of Kazakhstan expresses condolences to President Ilham Aliyev over deaths of Azerbaijani servicemen as result of helicopter crash
President Ilham Aliyev calls First President of Kazakhstan Nursultan Nazarbayev
Volume of cargo loaded/unloaded in ports of Iran’s Abadan County soars
Georgia releases COVID-19 data for December 1
UK ambassador views de-mining work in Azerbaijan’s Tartar (PHOTO)
Kazakhstan's revenues from passenger transport via internal waters skyrocket
Azerbaijani oil prices decrease
Interest in dev’t strategy of inland transportation via 'One Belt One Road' growing - analyst
Covishield 63% effective against Covid, 81% against moderate-severe infection: Study
Bodies of Azerbaijani servicemen from fatal helicopter crash, handed over to their relatives (PHOTO/VIDEO)
Russian Embassy expresses condolences to Azerbaijan due to military helicopter crash of State Border Service (PHOTO)
Azerbaijani currency rates for December 1
Uzbekistan reveals its top polyethylene export destinations in 10M2021
Iranian currency rates for Dec. 1
US Ambassador to Azerbaijan expresses condolences for lives lost in crash of military helicopter
Azerbaijan reveals ongoing construction of Shukurbeyli-Jabrayil-Hadrut highway (PHOTO)
Azerbaijani FM to take part in meeting of OSCE FMs
Tesla dominates as EV sales take off in Israel
ADB funding bridge construction in Georgia
Uzbekistan shares domestic COVID-19 data for November 30
SOCAR Turkey intends to boost its activities - CEO
SOCAR Turkey's head talks Petkim goals
Oil rises 1% ahead of OPEC meeting under Omicron cloud
Baku Stock Exchange to hold auction for short-term notes of Central Bank
Azerbaijan provides water supply to liberated Lachin district (PHOTO)
Azerbaijan’s export of non-oil products increases
Azerbaijan increases gas export since early 2021
Russian Gazprombank forecasts Azerbaijan's economic growth to recover
Price indexes of financial, trade sectors at Uzbek stock exchange rise
Turkey’s aviation fuel export to Georgia increases
Helicopter crash in Azerbaijan broke our hearts - Selcuk Bayraktar
Bahar Azadi gold coin price again falling in Iran
Government of Uzbekistan approves feasibility study for construction of elevated subway
Russia again surpasses Azerbaijan as top importer of Georgia's potatoes
Kazakhstan adds over 700 new COVID-19 cases in 24h
Russia, Azerbaijan progressively developing co-op in agriculture – Russian ministry
President Erdogan calls for foreign long-term investments in Turkey
Year passes since liberation of Azerbaijani Lachin district from Armenian occupation
Air travelers to U.S. set to face tougher COVID-19 testing
British armed forces to allow people with HIV to enlist
Brazil reports first cases of Omicron variant
U.S. FDA experts narrowly recommend Merck's COVID-19 new drug molnupiravir
WHO warns against blanket travel bans over Omicron coronavirus variant
Turkey confirms 25,216 daily COVID-19 cases
9 injured in refinery fire in north Algeria
UK to offer booster vaccines to all adults by end of January
At least three students dead in Michigan school shooting, suspect in custody
Canada to ban travelers from Nigeria, Malawi, Egypt over Omicron concerns
Uzbekistan reveals leading regions in amount of loans issued in 9M2021
Head of EU delegation expresses condolences to Azerbaijan over military helicopter crash
Italian Embassy expresses condolences to Azerbaijan over military helicopter crash
Georgian economy grows 6.9% in October 2021
Turkish President to pay visit to Qatar in December
Capacity of crashed military helicopter of Azerbaijan's State Security Service was 24 people
Manual counting of 29% of protocols show that 7 parties may enter Kyrgyz Parliament
AZAL plane makes emergency landing in Baku
Pakistan seeking to increase trade routes on border with Iran
UN Resident Coordinator expresses condolences over military helicopter crash in Azerbaijan
Any outside influence as cause of helicopter crash out of question - head of Azerbaijani State Border Service
Coordination Headquarters holds another meeting in Azerbaijan (PHOTO)
Azerbaijan's First Deputy Prosecutor General talks investigation, following helicopter crash
Former Turkish PM expresses condolences over helicopter crash in Azerbaijan
French ambassador expresses condolences over crash of military helicopter in Azerbaijan
UK's Ambassador expresses condolences over crash of military helicopter in Azerbaijan
Organization of Turkic States expresses condolences to Azerbaijan due to helicopter crash
Israeli ambassador expresses condolences to Azerbaijan over helicopter crash
Iranian Foreign Ministry expresses condolences to Azerbaijan over helicopter crash
Helicopter crashed while landing at Garaheybat training center – Azerbaijani State Border Service
Status of martyr to be assigned to those killed in plane crash in Azerbaijan (VIDEO)
Turkish President Erdogan holds phone talks with President Ilham Aliyev
President Ilham Aliyev, First Lady Mehriban Aliyeva give instructions on burial of those killed in helicopter crash
Witnesses of helicopter crash being questioned in Azerbaijan – First Deputy Prosecutor General
All news