29 April 2021 | 07:28am
StockMarketWire.com - Royal Dutch Shell has confirmed a 4% increase on its dividend per share payment to 17.35 cents for the first quarter of 2021, having made a strong start to the year.
The oil giant said earnings rose to $3.2 billion, up from $393 million in the final quarter of 2020. It has also generated more than $8 billion of cash in the first three months of the year, while reducing net debt by over $4billion to $71.3 billion during the same time period.
It is targeting a net debt figure of $65billion and said that once this milestone is achieved, it will aim to increase shareholder distributions to 20-30% of cash flow from operations.
Shell International B.V.: ROYAL DUTCH SHELL PLC PUBLISHES FIRST QUARTER 2021 PRESS RELEASE
The Hague, April 29, 2021 Shell has made a strong start to 2021, generating over $8 billion of cash in the quarter. Our integrated business model is ideally positioned to benefit from recovering demand. As previously announced, the first quarter 2021 dividend per share has been increased by around 4%, in line with our progressive dividend policy. We have reduced net debt by more than $4 billion this quarter, progressing towards the $65 billion milestone to increase shareholder distributions. Our competitive and robust financial performance provides the platform to achieve the goals of our Powering Progress strategy.
ALTERNATIVE PERFORMANCE (NON-GAAP) MEASURES
This announcement includes certain measures that are not defined by generally accepted accounting principles (GAAP) such as IFRS, including Adjusted Earnings, Adjusted EBITDA, CFFO excluding working capital movements, Cash capital expenditure, free cash flow, Divestment proceeds and Net debt. This information, along with comparable GAAP measures, is useful to investors because it provides a basis for measuring Royal Dutch Shell plc’s operating performance and ability to retire debt and invest in new business opportunities. Royal Dutch Shell plc’s management uses these financial measures, along with the most directly comparable GAAP financial measures, in evaluating the business performance.
Shell announces first quarter 2021 results
29 Apr 2021
Shell has announced its first quarter 2021 results. First-quarter adjusted earnings rose to $3.23 billion and the first quarter 2021 dividend per share has been increased by around 4%, in line with the Company s progressive dividend policy.
Royal Dutch Shell Chief Executive Officer, Ben van Beurden, said: Shell has made a strong start to 2021, generating over $8 billion of cash in the quarter. Our integrated business model is ideally positioned to benefit from recovering demand. As previously announced, the first quarter 2021 dividend per share has been increased by around 4%, in line with our progressive dividend policy.We have reduced net debt by more than $4 billion this quarter, progressing towards the $65 billion milestone to increase shareholder distributions.Our competitive and robust financial performance provides the platform to achieve the goals of our Powering Progress strategy.
By BFN News | 07:28 AM | Thursday 29 April, 2021 Royal Dutch Shell has confirmed a 4% increase on its dividend per share payment to 17.35 cents for the first quarter of 2021, having made a strong start to the year.
The oil giant said earnings rose to $3.2 billion, up from $393 million in the final quarter of 2020. It has also generated more than $8 billion of cash in the first three months of the year, while reducing net debt by over $4billion to $71.3 billion during the same time period.
It is targeting a net debt figure of $65billion and said that once this milestone is achieved, it will aim to increase shareholder distributions to 20-30% of cash flow from operations.