Shell Cuts Dividend For First Time Since World War II [zero hedge]
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
Company Research
Source: zero hedge
Shell Cuts Dividend For First Time Since World War II This morning, European energy giant Royal Dutch Shell made history when it became the first supermajor to cut its dividend for the first time since the second world war as the coronavirus pandemic cut quarterly earnings in half and forced the oil major to slash spending in order to preserve liquidity. The board of Shell said it had decided to reduce the quarterly dividend to 16 cents per share from 47 cents. “Shareholder returns are a fundamental part of Shell’s financial framework,” Chad Holliday, chair of the board of Royal Dutch Shell, said in a statement. “However, given the risk of a prolonged period of economic uncertainty, weaker commodity prices, higher volatility and uncertain demand outlook, the Board believes that maintaining the current level of shareholder distributions is not prudent.” According to the FT, the cut in the payout by two-thirds is part of a "reset" of the Anglo-Dutch group’s dividend policy and not a sho
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