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29.04.2021

Shell posts strong profit, raises dividend

Shell posts strong profit, raises dividend

The company went ahead with a planned 4% increase to dividend

Stocks impacted: Royal Dutch Shell Plc (RDS.A)

Shell reported stronger-than-expected first-quarter profits due to asset sales and higher oil and liquefied natural gas prices. First-quarter adjusted earnings rose to $3.23 billion, up more than seven-fold from the previous quarter. As a result, the company went ahead with a planned 4% increase to the payout after slashing its dividend last year. It also managed to pay off $4.1 billion of net debt, to $71.3 billion. Shell said its gas trading results were lower in the first quarter, but the company’s chemicals business really shone. In its outlook for the second quarter, Shell warned of persistent “significant uncertainty” in economic conditions, with an anticipated negative impact on the oil and gas industry.

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