Shell Jumps on Dividend Rise, Posting Second-Highest Profit
- Earnings were just below estimates, gearing rose unexpectedly
- Company plans to increase dividend by 15% in fourth quarter
Shell said it will buy back another $4 billion of shares over the next three months.
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Shell Plc gained the most since July as it raised its dividend after posting its second-highest profit on record, even as some parts of its business showed signs of slowing.
The run of historically high earnings is boosting rewards for shareholders, while also keeping the oil industry in the cross-hairs of governments grappling with the high cost of energy. Still, profit came in slightly below estimates and a measure of the company’s debt levels rose unexpectedly.