OTHER GROUP COMPANIES
market

Shell announces $6 billion share buyback after record-breaking earnings

Refining margins tripled in the second quarter, while profitable gas and electricity trading increased earnings.

July 29, 2022 8:48 IST | India Infoline News Service

As a consequence of robust gas trading and a doubling of refining profit, Shell's second-quarter earnings of $11.5 billion broke the record it established only three months earlier on Thursday.


The business did not increase its 25-cent per share dividend but did launch a $ 6-billion share repurchase program for the current quarter. According to the statement, shareholder returns will continue to be "above 30% of cash flow from operational activities".


After a two-year decline, energy businesses' earnings have increased thanks to a quick recovery in demand following the end of pandemic lockdowns and a rise in energy costs caused by Russia's invasion of Ukraine. In the first half of 2022, Shell repurchased $8.5 billion worth of shares, and the new program is substantially larger than anticipated.

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account
  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity