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Shell Raises Dividend and Starts $2 Billion Share Buyback

  • CEO says Shell’s board is confident about boosting returns
  • Company seeks to woo investors after slashing payout last year
Royal Dutch Shell Plc Pernis Oil Refinery Ahead of Earnings
Photographer: Peter Boer/Bloomberg
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Royal Dutch Shell Plc raised its dividend by almost 40% and said it will buy back $2 billion of shares, continuing an effort to win back investors as stronger oil prices and a buoyant chemicals market lifted earnings.

The move comes more than a year after Shell slashed its dividend by two-thirds. Modest increases to the payout since then did little to boost the company’s appeal, with its shares still about 40% lower than pre-pandemic levels despite a full recovery in oil prices.