Shell: reassures market by raising its dividend
(CercleFinance.com) - On Thursday Royal Dutch Shell published sharply quarterly results that are down sharply, although investors preferred to focus on the group's increased dividend and a cash flow that remains generous.
Shell, which disappointed the market last July by unveiling an abysmal Q2 net loss of 18.1 billion dollars in the second quarter, this morning was one of the best performers on the FTSE, up over 3%.
The announcement of a lower profit of 546 million dollars for the third quarter, a fraction of the 6 billion dollars posted a year ago, does not worry investors too much, as this performance is still a lot higher than the consensus.
Shell, which mentioned a "resilient" quarter, also says it recorded free cash flow of over 7.5 billion dollars over the last quarter.
As a result, the group announced a quarterly dividend of 16.65 cents, up 4%, while its net debt fell to 65 billion dollars, against 73.5 billion dollars a year earlier.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Shell, which disappointed the market last July by unveiling an abysmal Q2 net loss of 18.1 billion dollars in the second quarter, this morning was one of the best performers on the FTSE, up over 3%.
The announcement of a lower profit of 546 million dollars for the third quarter, a fraction of the 6 billion dollars posted a year ago, does not worry investors too much, as this performance is still a lot higher than the consensus.
Shell, which mentioned a "resilient" quarter, also says it recorded free cash flow of over 7.5 billion dollars over the last quarter.
As a result, the group announced a quarterly dividend of 16.65 cents, up 4%, while its net debt fell to 65 billion dollars, against 73.5 billion dollars a year earlier.
Copyright (c) 2020 CercleFinance.com. All rights reserved.