Shell cuts dividend for first time since World War II

Shell cuts dividend for first time since World War II

Shell cut its dividend by two-thirds, from 47 cents to 16, for first time since World War Two following the collapse in global oil demand due to the Covid-19. It has also suspended the next tranche of its share buyback programme. This came on back of a 46% fall in Q1 net income to $2.9bn. CEO Ben warned of ’continued deterioration in the Global demand as lockdowns globally have kept people inside.

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