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Shell plc (NYSE: SHEL) is a British multinational oil and gas company headquartered in London, England. As an integrated oil and gas company, Shell engages in the exploration, production, refining, and marketing of oil and natural gas. The company’s operations span across Europe, Asia, Oceania, Africa, and the Americas.
Shell produced an average of 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day in 2023. At the end of 2023, Shell’s reserves stood at 9.6 billion barrels of oil equivalent, with 49% consisting of liquids. The company operates refineries with a combined capacity of 1.6 million barrels per day and sells approximately 12 million tons of chemicals annually. Shell’s largest chemical plants are situated in Central Europe, China, Singapore, and North America.
In recent developments, Shell has released its 2023 report on payments to governments, complying with UK and EU regulations, and submitted this report to the National Storage Mechanism and the US SEC. The company is scheduled to publish its Q1 2024 financial results on May 2, 2024, with a strong outlook presented for its various segments including Integrated Gas, Upstream, Marketing, Chemicals & Products, and Renewables & Energy Solutions.
Shell remains committed to its energy transition strategy, aiming for net-zero emissions by 2050. The company’s operating plans and budgets are updated annually to reflect the current economic environment and include targets for Scope 1, Scope 2, and Net Carbon Intensity.
The company has also announced an interim dividend for Q1 2024, payable in multiple currencies. Shareholders can participate in Dividend Reinvestment Programs to reinvest their dividends into Shell shares.
Ben van Beurden is set to step down as CEO and Director of Shell on 31 December 2022. He will serve as an advisor until 30 June 2023. His remuneration includes a gross payment of GBP 1,420,000 for loss of office, phased in six installments. Additionally, he will continue to receive his salary and pension allowance until June 2023. A pro-rated bonus for 2023 will be awarded post-departure, with 50% delivered in shares under a holding period. No new Long-term Incentive Plan awards will be made for 2023.
Shell plc announced the purchase of 998,560 shares for cancellation on October 27, 2022. The shares were bought on various trading venues, with the highest price at £24.35 and the lowest at £23.15, resulting in a volume weighted average price of £24.097. This transaction is part of an existing share buy-back program, managed by Goldman Sachs International, which will operate from October 27, 2022 to January 27, 2023. The program adheres to EU and UK regulations on share repurchases.
Shell plc announced the timetable for its 2023 interim dividends, with four quarterly payments scheduled. Key dates include:
- 4th Quarter 2022: Payment on 27-Mar-23
- 1st Quarter 2023: Payment on 26-Jun-23
- 2nd Quarter 2023: Payment on 18-Sep-23
- 3rd Quarter 2023: Payment on 20-Dec-23.
The ex-dividend dates for both American Depositary Shares and ordinary shares are set for 16-Feb-23, 18-May-23, 10-Aug-23, and 16-Nov-23.
For more details, visit www.shell.com/dividend.
Shell plc has announced a new share buyback programme worth $4 billion, set to last approximately three months. This initiative aims to decrease the issued share capital, with all repurchased shares canceled. The programme is expected to conclude before the Q4 results announcement scheduled for February 2, 2023. Shell is partnering with a single broker for the buyback operations across London and Netherlands exchanges. The total shares eligible for purchase amount to 528,919,217, within the authority granted by shareholders at the 2022 Annual General Meeting.
Shell plc announced an interim dividend of US$ 0.25 per ordinary share for Q3 2022, payable on December 19, 2022. Shareholders can opt to receive their dividends in US dollars, euros, or pounds sterling, with a default in euros for shares held via Euroclear Nederland and pounds sterling for others. The ex-dividend dates are November 9 for ADSs and November 10 for ordinary shares. The payment will be adjusted to reflect the dividend's equivalent in euros and pounds, announced on December 5, 2022. This marks another step in Shell's commitment to returning value to shareholders.
Shell reported robust Q3 2022 results amidst volatility in global energy markets, with adjusted earnings of $9.5 billion and adjusted EBITDA of $21.5 billion. The company announced a $4 billion share buyback program and plans a 15% increase in the dividend per share for Q4 2022, subject to Board approval. Key acquisitions and divestments enhance portfolio resilience, while net debt increased by approximately $2 billion to $48.3 billion. Upcoming CEO transition to Wael Sawan in January 2023 marks a significant change in leadership.
Shell plc reported its Q3 2022 unaudited results showing significant fluctuations in financial performance. Income attributable to shareholders was $6.7 billion, a considerable drop from $18 billion in Q2 2022. Adjusted earnings were at $9.5 billion, down from $12.9 billion. Cash flow from operating activities reached $12.5 billion. The company faced net losses of $1 billion from commodity derivatives. Shell announced a $4 billion share buyback program, following a distribution of $6.8 billion in the quarter, with a prospective 15% dividend increase for Q4 2022, pending Board approval.
Shell plc announces the appointment of Cyrus Taraporevala as a Non-executive Director, effective March 2, 2023. He will join the Audit Committee on the same date. Sir Andrew Mackenzie, Chair of Shell, praised Taraporevala's extensive experience in global financial markets and asset management, highlighting his successful international career spanning over 30 years. Taraporevala, currently CEO of State Street Global Advisors, will retire from that role in December 2022. This strategic appointment aims to enhance Shell's execution of its corporate strategy.
HyAxiom Inc. has entered into a crucial agreement with Shell Plc and other partners to test a solid oxide fuel cell technology for a deep-sea liquefied natural gas carrier. Scheduled for deployment in 2025, this initiative aims to reduce carbon emissions in maritime transport, a sector facing significant environmental challenges. The collaboration also involves companies like KSOE, DFCC, and DNV. This project will gather valuable data over a year to explore the feasibility of integrating solid oxide fuel cells in future vessels, marking a significant step towards sustainable shipping solutions.
Shell plc announced a share buyback on 07 October 2022, purchasing 384,797 shares for cancellation. The highest price paid was £23.3000 and the lowest £23.1000, with a volume-weighted average of £23.2318. These transactions were conducted as part of an ongoing share buyback program that began on 28 July 2022, managed by Citigroup Global Markets Limited. The program adheres to regulatory standards set by EU MAR and UK MAR.
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