Commodities and Futures News

Shell reports $9.5 billion profit, plans to boost dividend

2022.10.27 02:44



© Reuters. FILE PHOTO: The Shell logo is seen at a Shell petrol station in London, Britain, January 31, 2008. REUTERS/Toby Melville/File Photo

By Ron Bousso and Shadia Nasralla

LONDON (Reuters) – Shell (LON:) on Thursday reported a third-quarter profit of $9.45 billion, easing from the previous quarter’s record high due to weaker refining and gas trading, and announced plans to sharply boost its dividend by year end.Shell also extended its share repurchasing programme, announcing plans to buy $4 billion of stock over the next three months.

Shell’s cashflow in the quarter dropped sharply to $12.5 billion from $18.6 billion in the previous quarter due to a large working capital outflow of $4.2 billion as a result of changes in the value of European gas inventories.

Its adjusted earnings were slightly above the $9 billion average analyst forecast provided by the company. Shell had posted record quarterly earnings of $11.5 billion in the previous quarter and $4.1 billion a year earlier.

The company said it intends to increase its dividend by 15% in the fourth quarter, when Chief Executive Officer Ben van Beurden will step down after nine years at the helm.

He will be succeeded by Wael Sawan, the current head of Shell’s and low-carbon division.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,333.35 4.32%
ethereum
Ethereum (ETH) $ 3,481.15 2.30%
tether
Tether (USDT) $ 0.999619 0.14%
xrp
XRP (XRP) $ 2.31 3.13%
bnb
BNB (BNB) $ 699.38 1.46%
solana
Solana (SOL) $ 199.22 5.17%
dogecoin
Dogecoin (DOGE) $ 0.337471 4.70%
usd-coin
USDC (USDC) $ 1.00 0.08%
staked-ether
Lido Staked Ether (STETH) $ 3,479.69 2.34%
cardano
Cardano (ADA) $ 0.934976 2.20%
tron
TRON (TRX) $ 0.256102 1.40%
avalanche-2
Avalanche (AVAX) $ 41.22 6.88%
chainlink
Chainlink (LINK) $ 25.11 4.23%
the-open-network
Toncoin (TON) $ 5.88 5.08%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,130.76 2.26%
shiba-inu
Shiba Inu (SHIB) $ 0.000024 5.95%
sui
Sui (SUI) $ 4.62 1.43%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,916.23 4.18%
hedera-hashgraph
Hedera (HBAR) $ 0.320604 12.23%
stellar
Stellar (XLM) $ 0.397938 8.35%
polkadot
Polkadot (DOT) $ 7.53 3.25%
hyperliquid
Hyperliquid (HYPE) $ 30.10 4.36%
weth
WETH (WETH) $ 3,482.12 2.29%
bitcoin-cash
Bitcoin Cash (BCH) $ 468.24 2.33%
leo-token
LEO Token (LEO) $ 9.48 1.47%
uniswap
Uniswap (UNI) $ 14.44 2.35%
litecoin
Litecoin (LTC) $ 108.11 2.27%
pepe
Pepe (PEPE) $ 0.000019 5.13%
bitget-token
Bitget Token (BGB) $ 4.98 18.40%
near
NEAR Protocol (NEAR) $ 5.56 2.63%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,673.73 2.24%
ethena-usde
Ethena USDe (USDE) $ 0.999289 0.12%
aave
Aave (AAVE) $ 369.83 2.01%
aptos
Aptos (APT) $ 9.83 3.16%
internet-computer
Internet Computer (ICP) $ 11.34 6.48%
usds
USDS (USDS) $ 0.999563 0.04%
crypto-com-chain
Cronos (CRO) $ 0.162984 1.41%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.525779 5.15%
vechain
VeChain (VET) $ 0.052716 9.95%
ethereum-classic
Ethereum Classic (ETC) $ 27.84 2.05%
mantle
Mantle (MNT) $ 1.23 3.44%
render-token
Render (RENDER) $ 7.80 1.44%
bittensor
Bittensor (TAO) $ 501.98 3.70%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.40 2.48%
mantra-dao
MANTRA (OM) $ 3.80 0.12%
whitebit
WhiteBIT Coin (WBT) $ 24.89 2.12%
monero
Monero (XMR) $ 192.15 1.25%
arbitrum
Arbitrum (ARB) $ 0.814759 2.39%
dai
Dai (DAI) $ 1.00 0.05%
filecoin
Filecoin (FIL) $ 5.46 6.13%