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LONDON (Reuters) -Shell bossted its dividend and share repurchases on Thursday after its fourth quarter profits soared to $6.4 billion at the end of last year on the back of higher oil and gas prices.
Shell (LON:RDSa), which moved its headquarters from The Hague to London last month, said it expected to increase its dividend by 4% in the first quarter of 2022.
The company also announced it will buy back $8.5 billion worth of shares in the first half of 2020, including $5.5 billion from the sale of its Permian shale assets in the United States.
That compares with share buybacks totalling $3.5 billion in 2021.
“2021 was a momentous year for Shell,” CEO Ben van Beurden said in a statement.
Fourth-quarter 2021 adjusted earnings rose by 55% from the previous quarter to $6.4 billion, above an average analyst forecast https://vara-services.com/shell provided by the company for a $5.2 billion profit. That compares with earnings of $393 million a year earlier.
For the year, Shell’s adjusted earnings rose to $19.3 billion, compared with $4.85 billion in 2020.
