{"id":125016,"date":"2022-02-03T08:33:11","date_gmt":"2022-02-03T08:33:11","guid":{"rendered":"https:\/\/fin2me.com\/?p=125016"},"modified":"2022-02-03T08:33:11","modified_gmt":"2022-02-03T08:33:11","slug":"shell-again-boosts-dividend-buybacks-as-profits-soar","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/shell-again-boosts-dividend-buybacks-as-profits-soar\/","title":{"rendered":"Shell again boosts dividend, buybacks as profits soar"},"content":{"rendered":"
FILE PHOTO: General view of a Shell petrol station sign, in Milton Keynes, Britain, January 5, 2022. REUTERS\/Andrew Boyers<\/figcaption>

LONDON (Reuters) – Shell boosted its dividend and share repurchases on Thursday after fourth quarter profits soared to $6.4 billion fueled by higher oil and gas prices and strong gas trading performance.<\/p>\n

Shell, which moved its headquarters from The Hague to London last month, said it expected to increase its dividend by 4% in the first quarter of 2022 to $0.25 per share.<\/p>\n

The company also announced it will buy back $8.5 billion worth of shares in the first half of 2022, including $5.5 billion from the sale of its Permian shale assets in the United States.<\/p>\n

That compares with share buybacks totalling $3.5 billion in 2021.<\/p>\n

\u201c2021 was a momentous year for Shell,\u201d CEO Ben van Beurden said in a statement.<\/p>\n

Fourth-quarter 2021 adjusted earnings rose by 55% from the previous quarter to $6.4 billion, above an average analyst forecast provided by the company for a $5.2 billion profit. That compares with earnings of $393 million a year earlier.<\/p>\n

For the year, Shell\u2019s adjusted earnings rose to $19.3 billion, compared with $4.85 billion in 2020.<\/p>\n

The energy company said it planned this year\u2019s spending at the lower end of the $23-$27 billion after spending $20 billion in 2021.<\/p>\n

Shell, the largest trader of liquefied natural gas (LNG), said its integrated gas earnings were boosted by \u201csignificantly higher\u201d profits from trading.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: General view of a Shell petrol station sign, in Milton Keynes, Britain, January 5, 2022. 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