Shell cuts dividend and first buyback tranche due to Covid-19
The oil major has cut its quarterly dividend by two-thirds, the first time since World War 2, as first-quarter profits slump 46%
30 April 2020 - 11:45
London — Royal Dutch Shell cut its dividend for the first time since World War 2 on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.
Shell also suspended the next tranche of its share buyback programme and said it is reducing oil and gas output by nearly a quarter after its net profit almost halved in the first three months of 2020...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.