Shell: shareholder payout materialising

(CercleFinance.com) - Shell announced on Friday that it intends to return to its shareholders some 5.
5 billion dollars received from the sale of its activities in the Permian Basin in the US.

In Q4 update, the oil giant said the payout would be made through share buybacks "at a gradual pace".

The group said the decision was taken by its board of directors on 31 December at its first meeting in the UK following the recent simplification of its operating structure.

Shell notes that the 5.5 billion dollars it intends to offer to its shareholders will add to the 20% to 30% of its cash flow from operations (CFFO) already provided for in its capital allocation plan.

Pending the publication of its final Q4 results, scheduled for 3 February, the energy group provided some indicators relating to its activity over the past month.

The publication shows a refining margin of 6.55 dollars per barrel for the last three months of the year, above the 5.70 dollars in Q3, a logical evolution given the increase in oil prices at the end of last year.

However, all said, on the London Stock Exchange, Shell "A" shares were down 0.4% on Friday morning following all these announcements.


Copyright (c) 2022 CercleFinance.com. All rights reserved.