Shell cuts dividend for first time since WWII, shares -7% [Seeking Alpha]
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: Seeking Alpha
Energy|On the MoveShell cuts dividend for first time since WWII, shares -7%Apr. 30, 2020 2:41 AM ETRoyal Dutch Shell plc (RDS.A)Yoel Minkoff"Given the continued deterioration in the macroeconomic outlook and significant mid and long-term uncertainty," Royal Dutch Shell (RDS.BslashingCOVID-19 has slammed demand for oil, gas and related products, while crude recorded a historic plunge into negative territory earlier this month.Shell's adjusted current cost of supplies income, used as a proxy for net profit, slid 45% to $2.9B during the first quarter of 2020, compared with $5.3B a year earlier.Shell ADSs are listed on the NYSE under symbolsCEO Van Burden on Bloomberg:“The biggest crisis we feel is the crisis of uncertainty.” Calls the cut "an inevitable moment."In January: “I think lowering the dividend is not a good lever to pull if you want to be a world-class investment case, so we’re not going to do that. And it’s also not needed, to be perfectly honest.”Shares areSee all stocks on
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