TIDMSHELL
London, July 27, 2023 - The Board of Shell plc (the "Company")
today announced an interim dividend in respect of the second
quarter of 2023 of US$ 0.331 per ordinary share.
Details relating to the second quarter 2023 interim dividend
Per ordinary share Q2 2023
Shell Shares (US$) 0.331
Shareholders will be able to elect to receive their dividends in
US dollars, euros or pounds sterling.
Absent any valid election to the contrary, persons holding their
ordinary shares through Euroclear Nederland will receive their
dividends in euros.
Absent any valid election to the contrary, shareholders (both
holding in certificated and uncertificated form (CREST members))
and persons holding their shares through the Shell Corporate
Nominee will receive their dividends in pounds sterling.
The pound sterling and euro equivalent dividend payments will be
announced on September 4, 2023.
Per ADS Q2 2023
Shell ADSs (US$) 0.662
Cash dividends on American Depositary Shares ("ADSs") will be
paid, by default, in US dollars.
Each ADS represents two ordinary shares. ADSs are evidenced by
an American Depositary Receipt ("ADR") certificate. In many cases
the terms ADR and ADS are used interchangeably.
Dividend timetable for the second quarter 2023 interim
dividend
Event Date
Announcement date July 27, 2023
Ex- Dividend Date for ADSs August 10, 2023
Ex- Dividend Date for ordinary shares August 10, 2023
Record date August 11, 2023
Closing of currency election date (see Note August 25, 2023
below)
Pound sterling and euro equivalents announcement September 4, 2023
date
Payment date September 18, 2023
Note
A different currency election date may apply to shareholders
holding shares in a securities account with a bank or financial
institution ultimately holding through Euroclear Nederland. This
may also apply to other shareholders who do not hold their shares
either directly on the Register of Members or in the corporate
sponsored nominee arrangement. Shareholders can contact their
broker, financial intermediary, bank or financial institution for
the election deadline that applies.
Taxation - cash dividends
If you are uncertain as to the tax treatment of any dividends
you should consult your tax advisor.
Dividend Reinvestment Programmes ("DRIP")
The following organisations operate Dividend Reinvestment Plans
("DRIPs") which enable the Company's shareholders to elect to have
their dividend payments used to purchase the Company's shares:
-- Equiniti Financial Services Limited ("EFSL"), for those holding shares
(a) directly on the register as certificate holder or as CREST Member and
(b) via the Shell Corporate Nominee;
-- ABN-AMRO NV ("ABN") for Financial Intermediaries holding shares via
Euroclear Nederland;
-- JPMorgan Chase Bank, N.A. ("JPM") for holders of ADSs; and
-- Other DRIPs may also be available from the intermediary through which
investors hold their shares and ADSs.
Such organisations provide their DRIPs fully on their account
and not on behalf of the Company.
Interested parties should contact DRIP Offerors directly.
More information can be found at https://www.shell.com/drip
To be eligible to participate in the DRIPs for the next
dividend, shareholders must make a valid dividend reinvestment
election before the published date for the close of elections.
Enquiries
Media International: +44 207 934 5550
Media Americas: +1 832 337 4355
Cautionary Note
The companies in which Shell plc directly and indirectly owns
investments are separate legal entities. In this announcement
"Shell", "Shell Group" and "Group" are sometimes used for
convenience where references are made to Shell plc and its
subsidiaries in general. Likewise, the words "we", "us" and "our"
are also used to refer to Shell plc and its subsidiaries in general
or to those who work for them. These terms are also used where no
useful purpose is served by identifying the particular entity or
entities. "Subsidiaries", "Shell subsidiaries" and "Shell
companies" as used in this announcement refer to entities over
which Shell plc either directly or indirectly has control. Entities
and unincorporated arrangements over which Shell has joint control
are generally referred to as "joint ventures" and "joint
operations", respectively. "Joint ventures" and "joint operations"
are collectively referred to as "joint arrangements". Entities over
which Shell has significant influence but neither control nor joint
control are referred to as "associates". The term "Shell interest"
is used for convenience to indicate the direct and/or indirect
ownership interest held by Shell in an entity or unincorporated
joint arrangement, after exclusion of all third-party interest.
Forward-Looking Statements
This announcement contains forward-looking statements (within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995) concerning the financial condition, results of operations and
businesses of Shell. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking
statements. Forward-looking statements are statements of future
expectations that are based on management's current expectations
and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in
these statements. Forward-looking statements include, among other
things, statements concerning the potential exposure of Shell to
market risks and statements expressing management's expectations,
beliefs, estimates, forecasts, projections and assumptions. These
forward-looking statements are identified by their use of terms and
phrases such as "aim", "ambition", "anticipate", "believe",
"could", "estimate", "expect", "goals", "intend", "may",
"milestones", "objectives", "outlook", "plan", "probably",
"project", "risks", "schedule", "seek", "should", "target", "will"
and similar terms and phrases. There are a number of factors that
could affect the future operations of Shell and could cause those
results to differ materially from those expressed in the
forward-looking statements included in this announcement, including
(without limitation): (a) price fluctuations in crude oil and
natural gas; (b) changes in demand for Shell's products; (c)
currency fluctuations; (d) drilling and production results; (e)
reserves estimates; (f) loss of market share and industry
competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential
acquisition properties and targets, and successful negotiation and
completion of such transactions; (i) the risk of doing business in
developing countries and countries subject to international
sanctions; (j) legislative, judicial, fiscal and regulatory
developments including regulatory measures addressing climate
change; (k) economic and financial market conditions in various
countries and regions; (l) political risks, including the risks of
expropriation and renegotiation of the terms of contracts with
governmental entities, delays or advancements in the approval of
projects and delays in the reimbursement for shared costs; (m)
risks associated with the impact of pandemics, such as the COVID-19
(coronavirus) outbreak; and (n) changes in trading conditions. No
assurance is provided that future dividend payments will match or
exceed previous dividend payments. All forward-looking statements
contained in this announcement are expressly qualified in their
entirety by the cautionary statements contained or referred to in
this section. Readers should not place undue reliance on
forward-looking statements. Additional risk factors that may affect
future results are contained in Shell plc's Form 20-F for the year
ended December 31, 2022 (available at www.shell.com/investor and
www.sec.gov). These risk factors also expressly qualify all
forward-looking statements contained in this announcement and
should be considered by the reader. Each forward-looking statement
speaks only as of the date of this announcement, July 27, 2023.
Neither Shell plc nor any of its subsidiaries undertake any
obligation to publicly update or revise any forward-looking
statement as a result of new information, future events or other
information. In light of these risks, results could differ
materially from those stated, implied or inferred from the
forward-looking statements contained in this announcement.
Shell's Net Carbon Intensity
Also, in this announcement we may refer to Shell's "Net Carbon
Intensity", which includes Shell's carbon emissions from the
production of our energy products, our suppliers' carbon emissions
in supplying energy for that production and our customers' carbon
emissions associated with their use of the energy products we sell.
Shell only controls its own emissions. The use of the term Shell's
"Net Carbon Intensity" is for convenience only and not intended to
suggest these emissions are those of Shell plc or its
subsidiaries.
Shell's Net-Zero Emissions Target
Shell's operating plan, outlook and budgets are forecasted for a
ten-year period and are updated every year. They reflect the
current economic environment and what we can reasonably expect to
see over the next ten years. Accordingly, they reflect our Scope 1,
Scope 2 and Net Carbon Intensity (NCI) targets over the next ten
years. However, Shell's operating plans cannot reflect our 2050
net-zero emissions target and 2035 NCI target, as these targets are
currently outside our planning period. In the future, as society
moves towards net-zero emissions, we expect Shell's operating plans
to reflect this movement. However, if society is not net zero in
2050, as of today, there would be significant risk that Shell may
not meet this target.
Forward-Looking Non-GAAP Measures
This announcement may contain certain forward-looking non-GAAP
measures such as cash capital expenditure and divestments. We are
unable to provide a reconciliation of these forward-looking
Non-GAAP measures to the most comparable GAAP financial measures
because certain information needed to reconcile those Non-GAAP
measures to the most comparable GAAP financial measures is
dependent on future events some of which are outside the control of
Shell, such as oil and gas prices, interest rates and exchange
rates. Moreover, estimating such GAAP measures with the required
precision necessary to provide a meaningful reconciliation is
extremely difficult and could not be accomplished without
unreasonable effort. Non-GAAP measures in respect of future periods
which cannot be reconciled to the most comparable GAAP financial
measure are calculated in a manner which is consistent with the
accounting policies applied in Shell plc's consolidated financial
statements.
The contents of websites referred to in this announcement do not
form part of this announcement.
We may have used certain terms, such as resources, in this
announcement that the United States Securities and Exchange
Commission (SEC) strictly prohibits us from including in our
filings with the SEC. Investors are urged to consider closely the
disclosure in our Form 20-F, File No 1-32575, available on the SEC
website www.sec.gov.
LEI number of Shell plc: 21380068P1DRHMJ8KU70
(END) Dow Jones Newswires
July 27, 2023 02:02 ET (06:02 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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