Royal Dutch Shell Cuts Dividend for First Time Since World War Two [Yahoo! Finance News]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
US:NYSE Investor Relations:
shell.com/investors.html
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Source: Yahoo! Finance News
) -- Royal Dutch Shell Plc cut its dividend for the first time since the Second World War as the oil slump triggered by the coronavirus pandemic reshapes the energy industry.The surprise move is the latest illustration of how the global spread of the deadly disease is causing the biggest upheaval for generations. Energy consumption is undergoing a historic plunge, as is GDP growth in many countries. The global economy that emerges from the other side of the crisis may look very different, with lasting changes to patterns of fuel demand.This is a big moment in the history of Shell and the oil industry. The company was by far the biggest payer in the FTSE-100, providing a reliable income to millions of pension fund investors. The two-thirds reduction in its dividend to 16 cents a share will shock investors, but also underscores the gloomy outlook for the year.“It is of course a difficult day, but on the other hand it’s also an inevitable moment,” Shell Chief Executive Officer Ben van Be
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