Amid profit drops, Shell boosts dividend, considers NY stock move, focuses on shareholder value over renewables.
Despite a 16% drop in 2024 profits to $23.7 billion due to lower oil prices and refined margins, Shell increased its dividend by 4% and announced a $3.5 billion share buyback. The company is considering moving its stock market listing from London to New York to close the valuation gap with U.S. peers. CEO Wael Sawan emphasized cost-saving and shareholder value over renewable investments, facing criticism for prioritizing short-term financial gains over environmental sustainability.
2 months ago
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