Covid Superspreader Risk Is Linked to Restaurants, Gyms, Hotels, China-Anchored Free-Trade Zone, World’s Biggest, Nearly Done, Deep-Freeze Hurdle Makes Pfizer’s Vaccine One for the Rich, Target Is Reopening Its Looted Store With Black Shoppers in Mind, Stocks Slump on Lockdown Angst Amid Stimulus Limbo: Markets Wrap. Cutting the dividend will "reinforce our resilience, preserve the strength of our balance sheet and support value creation in the long term," Van Beurden added. The company was by far the biggest payer in the FTSE-100, providing a reliable income to millions of pension fund investors. The Hottest Bond Trade Powered by Tech Just Cleared $150 Bil... Energy giant reduces payout by two thirds as oil demand slumps, Decision shocks investors who rely on Shell’s generous returns. Shell (RDS.A) to Cut Jobs & Capacity at Singapore RefineryShell (RDS.A) to cut jobs and distillation capacity at its Pulau Bukom oil refinery, as part of its strategy to reduce carbon emissions. London (CNN Business)Royal Dutch Shell has slashed its dividend for the first time since World War II after profits were wiped out by a historic collapse in oil demand caused by the coronavirus pandemic. Below Book Value, 10 Canadian Stocks You Can Buy Cheaper Than Insiders Did, 10 Stocks "The world has seriously changed over the last few months,". Disclaimer. Shell (RDS.A) to Shut Down its Louisiana Convent RefineryShell (RDS.A) to shut its Convent Refinery after failing to find a buyer for the facility due to shrinking fuel demand amid the pandemic. Royal Dutch Shell B Dividend Payment Dates. If dividends are reduced longer term, it would free up cash to invest in the zero-carbon energy sector, added senior vice president Tom Ellacott. The dividend cut was based on “quite a bleak scenario” and “we don’t know what will be on the other side of this pandemic.”. Oil prices have recovered a little in recent days but remain at very depressed levels and producers are under enormous pressure to cut output to soak up the supply glut. Slashing Shell’s once-sacrosanct payout is a significant U-turn for van Beurden. in the S&P, Best Dividend Paying Stocks Analysts Global oil crisis: Bottom of the barrel is still unclear, Another 709,000 Americans filed initial jobless claims, What it could take to deliver a Covid-19 vaccine to the world, Party City CEO: Consumers still want to celebrate together, See how Texans are fighting to keep their businesses alive, Asian Americans facing historic unemployment during pandemic, 'Have to laugh to keep from crying': Business owner struggling amid pandemic, This fourth-grader doesn't have WiFi at home. of the Dow, Top 25 Broker Analyst Picks of the “Shareholder returns are a fundamental part of Shell’s financial framework,” Chairman Chad Holliday said in a statement. Dividend Stocks Crossing Below Their 200 DMA, 10 Canadian Stocks Where Shares in the company plunged as much as 8% in London on Thursday morning. Have a confidential tip for our reporters? Shell warned that its refineries and chemical plants may run at about 70% of capacity and upstream oil and gas production could fall by as much as a third. "BP, Chevron, ExxonMobil and. However, its critics have long warned that the company was too leveraged after its 2016 acquisition of BG Group, a big natural gas producer. "We are currently facing an unprecedented situation in the oil market," Norway's minister of petroleum and energy, Tina Bru said in a statement. The next Verizon Communications Inc dividend is expected to go ex in 2 months and to be paid in 3 months. Find … The world’s top international listed companies have already stopped share buybacks. High-Yield Canadian Real Estate Stocks, 10 Must-Know Image. Shell as a partner for change. About this page + Have you ever wondered how much money you could make by investing a small sum in dividend-paying stocks? Exxon Mobil Corp. has frozen its dividend for the first time in 13 years, but until Thursday only Norway’s Equinor ASA had gone as far as cutting its payout. The two-thirds reduction in its dividend to 16 cents a share -- “much worse” than many investors wanted or expected according to Redburn analyst Stuart Joyner -- underscores the gloomy outlook for the year. Lagarde Says Her ‘Hunch’ Is That ECB Will Adopt Digital Curr... Egypt Cuts Rates for 2nd Time in Boost for Virus-Hit Economy, CVC Cuts 15 Jobs in Distressed Debt to Focus on New Deals, Revlon to Avoid Bankruptcy Filing Upon Completing Debt Deal, Central Banks Short on Ammo Forced to Rely on Governments, Coca-Cola’s Turkish Bottler Seeks New Markets as Debt Drops. All rights reserved. Dividend Summary. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Text Energy consumption is undergoing a historic plunge, as is GDP growth in many countries. In March, it announced the cancellation of the next tranche of purchases as the severity of the pandemic became clear.

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