21 articles · Updated · The Wall Street Journal · May 7
The dividend rose 5% to $0.3906 a share, while the buyback was reduced to $3 billion from $3.5 billion and shares fell 2.3% to 3,138.5 pence.
Barclays analyst Lydia Rainforth said the dividend increase was unexpected, but the lower repurchase programme more than offset it in cash terms.
Earlier, Shell reported Q1 profit of about $6.92 billion and warned of lower Q2 production, linking the weaker outlook and reduced buybacks to Middle East conflict disruption.
As war profits hit a record $6.9 billion, why is Shell cutting back on rewarding its shareholders?
A US-Iran deal could crash oil prices. Is Shell's multi-billion dollar profit boom about to end?
As Shell reaps billions from war, will governments impose windfall taxes to ease public pain?