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Shell again boosts dividend, buybacks as profits soar -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A general view of a Shell station sign in Milton Keynes. Britain. January 5, 2022. REUTERS/Andrew Boyers

Ron Bousso

LONDON (Reuters] -Shell repurchased its shares and dividends Thursday, after the company’s fourth quarter profit soared to $6.4billion at the close of the last year. This was due to higher oil and natural gas prices.

Shell (LON) moved its headquarters last month from The Hague, Netherlands to London. It said that it expects to raise its dividend by 4 percent in the first quarter 2022.

It also stated that the company will purchase back $8.5billion worth of shares during the first half 2020.

This compares to share buybacks of $3.5 billion for 2021.

Shell’s CEO Ben van Beurden declared that “2021 was an important year” in a statement.

Fourth-quarter 2021 adjusted earnings rose by 55% from the previous quarter to $6.4 billion, above an average analyst forecast https://vara-services.com/shell provided by the company for a $5.2 billion profit. This compares to earnings of $393million a year ago.

Shell’s adjusted earnings for the year rose to $19.3 Billion, up from $4.85 Billion in 2020.

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