Shell to Increase Shareholder Distributions

By Jaime Llinares Taboada

Royal Dutch Shell PLC said Wednesday that it will increase total shareholder distributions to 20%-30% of cash flow from operations starting at the second-quarter results announcement.

The Anglo-Dutch oil energy major said that it will move to the next phase of its capital allocation framework as a result of strong operational and financial delivery, and an improved macroeconomic outlook.

The company said the level of additional distributions will be determined when there is full visibility of the second-quarter results.

Shell expects to have further reduced its net debt in the second quarter. It said it will retire its $65 billion net debt milestone, and target further strengthening of its balance sheet and credit metrics.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

July 07, 2021 02:31 ET (06:31 GMT)

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