A view shows a board with the logo of Shell at the company’s fuel station in Saint Petersburg, Russia May 6, 2022.
Anton Vaganov | Reuters
British oil major Shell on Tuesday announced plans to increase shareholder distributions, prioritize share buybacks and reduce capital spending in a bid to “deliver more value with less emissions.”
In an announcement ahead of its Capital Markets Day 2025 event, the company said it would bolster shareholder distributions to 40-50% of cash flow from operations, up from a 30-40% range previously. It intends to stick to progressive dividends of 4% per year.
The oil major also said it will lower its spending to $20-22 billion per year through to 2028.
This breaking news story is being updated.