Feb 3, 2022
Shell lifts dividend and buyback as profits soar
Shell said it would increase both its dividend and its share buyback programme after a bumper quarter for the oil and gas group. Shell stepped up the pace of its buyback, committing to purchase $8.5bn of shares in the first half of 2022, and raised its dividend by 4 per cent for the first quarter of its new financial year. Shell reported adjusted earnings of $6.4bn for the final quarter of 2021, as high oil and gas prices boosted earnings last year. Shell reported full-year adjusted earnings of £19.3bn, up from £4.8bn in 2020. Remember how yesterday we said that gambling tech group Playtech looked set for a break-up after approaches from bidders for parts of its business but not the whole company? This morning Playtech said it had received a potential takeover approach from an investor group to be formed and advised by TTB, owner of Gopher, which took a look at the company last year.
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