Shell increases dividend after beating Q3 forecasts

LONDON: Royal Dutch Shell on Thursday announced it will increase its third-quarter dividend by 4% after reporting strong-than-expected profits in the quarter.

Shell’s adjusted earnings fell 80% to $955 million but easily beat company-provided average analysts forecasts of a $146 million profit.

The Anglo-Dutch company also said it would boost its dividend on an annual basis going forward in a sign of confidence after it reduced its dividend in April for the first time since the 1940s in response to the slump in oil prices caused by the pandemic. – Reuters

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