A Shell tanker truck delivers gas to a fuel station, operated by Royal Dutch Shell Plc., in Rotterdam, Netherlands.
Jasper Juinen | Bloomberg | Getty Pictures
LONDON — Oil large Royal Dutch Shell on Thursday reported better-than-expected third-quarter earnings and introduced plans to extend its dividend to shareholders.
The Anglo-Dutch firm reported adjusted earnings of $955 million for the three months via to the top of September. That in contrast with a web revenue of $4.77 billion over the identical interval a yr earlier, and adjusted earnings of $638 million for the second quarter of 2020.
Analysts at Refinitiv had anticipated third-quarter web revenue to come back in at $594 million for the third quarter.
Shell stated it might elevate its dividend to shareholders by round 4% to 16.65 U.S. cents for the third quarter of 2020 and on annual foundation going ahead.
It comes round six months after the oil main lowered its dividend for the primary time since World Battle II, following a dramatic slide in oil costs amid the coronavirus disaster.
“Our sector-leading money flows will allow us to develop our companies of the long run whereas growing shareholder distributions, making us a compelling funding case,” Ben van Beurden, CEO of Royal Dutch Shell, stated in a press release.
“The power of our efficiency offers us the arrogance to put out our strategic path, resume dividend development and to offer readability on the money allocation framework, with clear parameters to extend shareholder distributions.”
Shares of Shell are down greater than 61% year-to-date.