Shell Boosts Dividend, Buybacks as Profits Soar

Ron Bousso
Thursday, February 3, 2022

Shell boosted its dividend and share repurchases on Thursday after its fourth-quarter profits soared to $6.4 billion on the back of higher oil and gas prices.

Shell, which moved its headquarters from The Hague to London last month, said it expected to increase its dividend by 4% in the first quarter of 2022.

The company also announced it will buy back $8.5 billion worth of shares in the first half of 2022, including $5.5 billion from the sale of its Permian shale assets in the United States.

That compares with share buybacks totaling $3.5 billion in 2021.

"2021 was a momentous year for Shell," CEO Ben van Beurden said in a statement.

Fourth-quarter 2021 adjusted earnings rose by 55% from the previous quarter to $6.4 billion, above an average analyst forecast provided by the company for a $5.2 billion profit.

That compares with earnings of $393 million a year earlier.

For the year, Shell's adjusted earnings rose to $19.3 billion, compared with $4.85 billion in 2020.

(Reporting by Ron Bousso; Editing by Jan Harvey and Tomasz Janowski)

Categories: People & Company News Finance Energy Activity Production

Related Stories

Türkiye Aims to Drill for Oil Off Somali Coast Next Year

Búzios Field Hits 1 Billion Barrels of Oil Production Offshore Brazil

BP Starts Oil Production at Major New Platform Offshore Azerbaijan

Current News

Equinor Upbeat About Investor Interest in US Offshore Wind Farm

GE Vernova Could Not Agree Turbines Switch on NY Wind Projects

Hess Profit Jumps on Guyana Output in Positive Sign for Exxon

Decarbonization Offshore O&G: Navigating the Path Forward

Subscribe for OE Digital E‑News