Shell Restores Full Cash Dividend as It Emerges From Slump
- Oil major confirms 2015 plan to buy back $25 billion of shares
- Anglo-Dutch company also raises forecast for free cash flow
Photographer: Chris Ratcliffe/Bloomberg
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Royal Dutch Shell Plc will pay its entire dividend in cash for the first time in more than two years as Europe’s biggest oil company seeks to demonstrate it has left the worst of the crude slump behind.
From this quarter, Shell will no longer offer shareholders the option to take the payout in stock, it said Tuesday. The company paid about $16 billion in dividends in the past year, of which about $4 billion was in shares. It also reiterated plans to buy back at least $25 billion of stock by 2020, subject to further debt reductions and a continued recovery in oil prices.