This is even as the oil giant announced a new share buyback programme resulting in an additional $4 billion of distributions, which we expect to complete by our Q4 2022 results announcement.
Chief executive officer, Shell Plc, Ben van Beurden, said the company plans to increase the dividend per share (DPS) for the fourth quarter, which will be paid in March 2023, by an expected 15 per cent subject to Board approval.
Beurden said: “we are delivering robust results at a time of ongoing volatility in global energy markets. We continue to strengthen Shell’s portfolio through disciplined investment and transform the company for a low-carbon future. At the same time we are working closely with governments and customers to address their short and long-term energy needs.”
