Shell CEO `Pulling Out All the Stops' to Safeguard Dividends
- Company also protecting planned share buybacks and investments
- Oil producer hasn't cut dividend payouts for seven decades
Ben van Beurden, chief executive officer of Royal Dutch Shell Plc, pauses during a session at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, on Thursday, June 18, 2015. SPIEF is an annual international conference dedicated to economic and business issues which takes place at the Lenexpo exhibition center June 18-20. Photographer: Andrey Rudakov/Bloomberg *** Local Caption *** Ben van Beurden
Royal Dutch Shell Plc is “pulling out all the stops” to safeguard its dividend in a world where oil prices remain “lower for longer,” Chief Executive Officer Ben Van Beurden said.
Europe’s biggest oil company is also protecting a plan to buy back shares and keeping its investment program “steady for the future,” Van Beurden said in e-mailed comments before a speech in London on Tuesday.