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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.
On May 9, 2022, Huibert Vigeveno, a director on Shell's Executive Committee, executed an initial notification regarding the sale of 16,357 ordinary shares at an average price of €27.13, totaling €443,704.59. This transaction was conducted on Euronext Amsterdam. Investors should note the potential implications of insider selling on market perception and stock performance. Shell's ongoing commitment to transparency is demonstrated through compliance with EU and UK market abuse regulations.
Shell plc has provided clarification regarding Resolution 20 on its Energy Transition Progress for 2021, emphasizing shareholder engagement during this period. The board expresses gratitude for the supportive advisory vote and notes that feedback was previously detailed in the 2021 Annual Report. The resolution aims to approve the progress as outlined in the Annual Report and the Shell Energy Transition Progress Report. Shell acknowledges calls for more information on engagement and commits to improving future disclosures, ensuring transparency is maintained throughout the energy transition journey.
On 09 May 2022, Shell plc announced the purchase of 3,587,000 shares for cancellation as part of its previously announced buy-back program. The shares were acquired across multiple trading venues, including LSE, Chi-X, and BATS, with a volume-weighted average price of £22.770. The buy-back arrangement, managed by BNP Paribas Exane, will run until 22 July 2022 and is conducted in compliance with established regulations such as EU MAR and UK MAR.
On May 6, 2022, Shell plc announced a share buy-back plan, purchasing 3,532,000 shares across various trading venues. The shares were bought at an average price of £23.131 per share, with the highest price at £23.290 and the lowest at £22.880. This initiative follows a prior announcement on May 5, 2022, with BNP Paribas Exane executing trades independently until July 22, 2022. The buy-back aligns with regulatory guidelines under EU and UK Market Abuse Regulations.
On May 5, 2022, Shell plc announced the purchase of 1,913,447 shares for cancellation as part of its ongoing buy-back program. The shares were acquired at prices ranging from £22.650 to £22.950 across different trading venues, including LSE, Chi-X, and BATS. The total volume-weighted average price paid per share was £22.897. BNP Paribas Exane is managing the buy-back, making independent trading decisions from May 5 until July 22, 2022. This strategic move complies with EU MAR and UK MAR regulations related to share buy-backs.
Shell plc has announced the start of its second tranche in the $8.5 billion share buyback programme, aimed at reducing its issued share capital. The first tranche, completed on May 4, 2022, involved the repurchase of 148.2 million shares for $4 billion. The current tranche has a maximum consideration of $4.5 billion and is expected to conclude by July 22, 2022. This initiative reflects Shell's commitment to enhancing shareholder value through strategic capital deployment.
Shell plc announced an interim dividend of US$ 0.25 per ordinary share for Q1 2022, effective May 5, 2022. The ex-dividend date for both ordinary shares and American Depository Shares (ADSs) is set for May 19, 2022, while the payment date is scheduled for June 27, 2022. Shareholders can choose to receive dividends in US dollars, euros, or pounds sterling, with the equivalent amounts announced on June 13, 2022. Changed tax residence to the UK means no Dutch withholding tax applies on these dividends.
Shell reported strong Q1 2022 earnings of $9.1 billion amid geopolitical tensions, aided by an increase in adjusted EBITDA to $19 billion. The company completed $4 billion of its $8.5 billion share buyback program and reduced net debt to $48.5 billion. Dividends rose by 4% to $0.25 per share. Despite challenges, including $3.9 billion in post-tax charges from Russia, Shell is on track for future shareholder distributions of over 30% of cash flow from operations for 2022.
Shell plc reported its first quarter 2022 unaudited results, revealing key financial metrics. Income attributable to shareholders was $7.1 billion, down 38% from Q4 2021. Adjusted EBITDA rose by 81% to $14.8 billion. Adjusted earnings per share increased by 4% to $0.25. Despite significant cash flow from operations of $14.8 billion, the company faced challenges due to a $3.9 billion post-tax charge related to exiting Russian operations. Shareholder distributions totaled $5.4 billion, including a 4% dividend increase. Net debt decreased to $48.5 billion, reducing gearing to 21.3%.
Shell plc announced its share buy-back transaction on 04 May 2022, purchasing 906,557 shares for cancellation. The shares were acquired at a highest price of £22.4950 and a lowest price of £22.1300, with a volume-weighted average price of £22.3421. This buy-back is part of a previously announced arrangement from 03 February 2022, where Citigroup Global Markets Limited executed trades independently for the company. The share purchases comply with market regulations including EU MAR and UK MAR.
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