|Shell's full year profit falls 8% but oil giant maintains dividend
Oil giant's fourth quarter profits misses expectations on $500m worth of impairment costs.
By Dan Cancian
February 2, 2017 08:24 GMT
Shell maintained its total dividend for the full year.iStock
Oil giant Royal Dutch Shell's annual profit fell almost 10%, while its fourth quarter profit missed analysts' forecast, after the company booked $500m (£394.5m) worth of impairment costs related to a deferred tax reassessments.
In the final three months of its financial year, the FTSE 100-listed group reported a 14% year-on-year increase in profits adjusted for one-time items and inventory changes advanced to $1.8bn, falling short of the expected $2.8bn figure.
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Despite the lower-than-expected fourth quarter profit, however, the company maintained its total dividend for the full year unchanged at 1.88 cents per share.
Europe's largest oil company reported current cost of supply (CSS) earnings, its preferred way of measuring profit, of $3.53bn for the whole of 2016, 8% lower year-on-year, while excluding exceptional items, CCS earnings in 2016 fell 37% from the previous year to $7.18bn.
Production in the fourth quarter, however, rose 28% year-on-year to 3.91 million barrels of oil equivalent a day (bpd). On an annual basis, oil and gas production averaged 3.7 million bpd, rising 24% year-on-year, boosted by the performance of BG Group, which the Anglo-Dutch company purchased in February last year.
Excluding the newly-acquired company, however, production declined 2% from 2015, the group said.
Shell's upstream unit producing oil and gas reported a CCS loss of $2.70bn, compared with a $2.25bn loss last year, while the downstream unit saw earnings fall to $7.24bn from $9.74bn. Meanwhile, income attributable to shareholders more than doubled last year, jumping from $1.93bn to $4.57bn
Cashflow from operations beat analyst expectations, but declined to $20.61bn from $29.81bn.
Group chief executive Ben van Beurden said the company was in the process of reshaping its strategy, adding he remained confident over the group's outlook.
"Debt has been reduced and, for the second consecutive quarter, free cash flow more than covered our cash dividend," he said.
"Looking ahead, we will further focus the portfolio and strengthen the company's financial framework in 2017. Our strategy is starting to pay off and in 2017 we will be investing around $25bn in high quality, resilient projects. I'm confident 2017 will be another year of progress for Shell to become a world-class investment."
Earlier this week, Shell agreed to offload holdings in 10 North Sea oil fields in a deal worth up to £3.1bn.
The oil major said it will sell its interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond, Schiehallion and Erskine transferring them to UK independent explorer Chrysaor.
The move is part of Shell steamlining its worldwide assets after it completed its £50bn purchase of BG last February. The deal greatly expands Shell's presence in the gas markets, lessening its reliance on oil production, which has seen prices fall by more than half over the last three years to around $55 per barrel for Brent Crude.|
|Royal Dutch Shell Shell Fourth Quarter 2016 Interim Dividend
UK Regulatory (RNS & others)
ROYAL DUTCH SHELL PLC FOURTH QUARTER 2016 INTERIM DIVID
The Board of Royal Dutch Shell plc ("RDS") today announced an interim dividend
in respect of the fourth quarter of 2016 of US$0.47 per A ordinary share ("A
Share") and B ordinary share ("B Share"), equal to the US dollar dividend for
the same quarter last year.
The Board expects that the first quarter 2017 interim dividend will be US$0.47,
equal to the US dollar dividend for the same quarter in the previous year. The
first quarter 2017 interim dividend is scheduled to be announced on May 4,
RDS provides eligible shareholders with a choice to receive dividends in cash
or in shares via a Scrip Dividend Programme ("the Programme"). For further
details please see below.
Details relating to the fourth quarter 2016 interim dividend
It is expected that cash dividends on the B Shares will be paid via the
Dividend Access Mechanism from UK-sourced income of the Shell Group.
Per ordinary share Q4 2016
RDS A Shares (US$) 0.47
RDS B Shares (US$) 0.47
Cash dividends on A Shares will be paid, by default, in euro, although holders
of A Shares will be able to elect to receive dividends in pounds sterling.
Cash dividends on B Shares will be paid, by default, in pounds sterling,
although holders of B Shares will be able to elect to receive dividends in
The pounds sterling and euro equivalent dividend payments will be announced on
March 10, 2017.
Per ADS Q4 2016
RDS A ADSs (US$) 0.94
RDS B ADSs (US$) 0.94
Cash dividends on American Depository Shares ("ADSs") will be paid, by default,
in US dollars.
ADS stands for an American Depositary Share. ADR stands for an American
Depositary Receipt. An ADR is a certificate that evidences ADSs. ADSs are
listed on the NYSE under the symbols RDS.A and RDS.B. Each ADS represents two
ordinary shares, two A Shares in the case of RDS.A or two B Shares in the case
of RDS.B. In many cases the terms ADR and ADS are used interchangeably.
Scrip Dividend Programme
RDS provides shareholders with a choice to receive dividends in cash or in
shares via the Programme.
Under the Programme shareholders can increase their shareholding in RDS by
choosing to receive new shares instead of cash dividends, if approved by the
Board. Only new A Shares will be issued under the Programme, including to
shareholders who currently hold B Shares.
In some countries, joining the Programme may currently offer a tax advantage
compared with receiving cash dividends. In particular, dividends paid out as
shares by the Company will not be subject to Dutch dividend withholding tax
(currently 15 per cent), unlike cash dividends paid on A shares, and they will
not generally be taxed on receipt by a UK shareholder or a Dutch shareholder.
Shareholders who elect to join the Programme will increase the number of shares
held in RDS without having to buy existing shares in the market, thereby
avoiding associated dealing costs.
Shareholders who do not join the Programme will continue to receive in cash any
dividends approved by the Board.
Shareholders who held only B Shares and joined the Programme are reminded they
will need to make a Scrip Dividend Election in respect of their new A Shares if
they wish to join the Programme in respect of such new shares. However, this
is only necessary if the shareholder has not previously made a Scrip Dividend
Election in respect of any new A Shares issued.
For further information on the Programme, including how to join if you are
eligible, please refer to the appropriate publication available on
Dividend timetable for the fourth quarter 2016 interim dividend
Announcement date February 2, 2017
Ex-dividend date RDS A and RDS B ADSs February 15, 2017
Ex-dividend date RDS A and RDS B shares February 16, 2017
Record date February 17, 2017
Scrip reference share price announcement February 23, 2017
Closing of scrip election and currency March 3, 2017
election (See Note)
Pounds sterling and euro equivalents March 10, 2017
Payment date March 27, 2017
Both a different scrip and 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. A different scrip election date may apply
to registered and non-registered ADS holders. Registered ADS holders can
contact The Bank of New York Mellon for the election deadline that applies.
Non-registered ADS holders can contact their broker, financial intermediary,
bank or financial institution for the election deadline that applies.
Taxation - cash dividends
Cash dividends on A Shares will be subject to the deduction of Dutch dividend
withholding tax at the rate of 15%, which may be reduced in certain
circumstances. Based on a policy statement issued by the Dutch Ministry of
Finance on April 29, 2016 (which has been formalised in law with effect from
January 2017), and depending on their particular circumstances, non-Dutch
resident shareholders may be entitled to a full or partial refund of Dutch
dividend withholding tax.
Furthermore, in April 2016, there were changes to the UK taxation of dividends.
The dividend tax credit has been abolished, and a new tax free dividend
allowance of GBP5,000 introduced. Dividend income in excess of the allowance will
be taxable at the following rates: 7.5% within the basic rate band; 32.5%
within the higher rate band; and 38.1% on dividend income taxable at the
If you are uncertain as to the tax treatment of any dividends you should
consult your own tax advisor.
Royal Dutch Shell plc
The Hague, February 2, 2017
- Investor Relations: Europe + 31 (0) 70 377 4540; North America +1 832 337
- Media: International +44 (0) 207 934 5550; Americas +1 713 241 4544|
|Big Oil May Not Need To Borrow To Pay Dividends For The First Time In 5 Years
By Tsvetana Paraskova - Jan 26, 2017, 5:07 PM CST Offshore rig
The hefty cost cuts that the supermajors have made over the past two years, combined with relatively stable oil prices that are now over $50, could mean that Big Oil may not have to resort to borrowing in order to pay the sacred dividends for the first time in five years, Bloomberg reports, quoting analysts at brokerage Jefferies International.
The slashed costs – including sweeping job cuts – and the canceling and delaying of highly capital-intensive projects have helped the world’s five biggest oil companies to stop bleeding cash and return to generating cash flows.
“As a group they are at peak debt levels now,” Jason Gammel, a London-based analyst at Jefferies, told Bloomberg, referring to operating and capital efficiency at ExxonMobil, Chevron, Shell, Total SA, and BP.
Since the oil prices started crashing in 2014, supermajors had amassed more and more debt. As of the middle of last year, Big Oil’s debts were rising, cash flows dropping, and capex diminishing, but dividends firmly held.
Now it looks like the tide is slowly turning, thanks to higher oil prices, leaner operations, and cost cuts.
Related: Robots Over Roughnecks: Next Drilling Boom Might Not Add Many Jobs
Jefferies has estimated that when oil prices were around US$100 per barrel in 2014, the Big Five had generated a combined US$180 billion in cash from operations. In 2016, the total cash from operations had plunged to US$83 billion. But higher oil prices are expected to help the now ‘leaner and meaner’ oil majors to generate US$142 billion from operations this year, and US$176 billion next year, according to Jefferies.
In the next two weeks, the Big Five will report fourth-quarter figures, and analyst estimates compiled by Bloomberg point to Exxon, Chevron and BP booking their first annual profit rises since 2014. More specifically, Chevron is projected to return to profit; Exxon is expected to book a 5.8-percent increase in income; Shell is seen reporting increased profit for a second quarter in a row; BP is likely to post higher adjusted earnings for the first time in nine successive quarters; and Total is seen posting a 4.3-percent increase in adjusted net income.
By Tsvetana Paraskova for Oilprice.com|
|Anyone that can tolerate a bit of risk in the hunt for yield might want to look at SIV. Two brokers seem to have updated, after last week's notification of contract delays into Q4, that the 7.8p dividend will be held, which makes the yield about 10.7%. Tread warily.|
February 09, 2017
2016 Results & Outlook Presentation (London, UK)
March 16, 2017
2016 Annual Reports
April 27, 2017
First Quarter 2017 Results
July 27, 2017
Second Quarter 2017 Results
September 25, 2017
Strategy & Outlook Presentation (London, UK)
October 27, 2017
Third Quarter 2017 Results
Dividends for holders of Total shares traded on the Euronext Paris
March 20, 2017
Ex-dividend date for the 3rd 2016 interim dividend
June 05, 2017
Ex-dividend date for the remainder of the 2016 dividend
September 25, 2017
Ex-dividend date for the 1st 2017 interim dividend
December 19, 2017
Ex-dividend date for the 2nd 2017 interim dividend|
|Utilities | Fri Dec 16, 2016 | 7:30am EST
Total cuts scrip dividend discount on improved outlook
* Total's shares among top gainers in Paris
* Analyst says expect Total to move away from scrip soon
* Total cancels treasury shares, no financial impact
PARIS, Dec 16 French oil and gas company Total on Friday cut the discount offered for its shares in a scrip dividend scheme for the second quarter to 5 percent from 10 percent citing improved confidence in its outlook and rising oil prices.
Oil companies have used the scrip dividend programme to maintain rather than cut dividends due to the prolonged fall in oil prices in a global glut.
inRead invented by Teads
Prices have rebounded from lows hit earlier this year after the Organization of the Petroleum Exporting Countries agreed to cut output by 1.2 million barrels per day (bpd) from Jan. 1, its first such deal since 2008. Russia and other non-OPEC producers plan to cut about half as much.
Brent crude futures were trading at $54.27 per barrel at 1153 GMT.
Total has said it will remove the scrip dividend scheme if oil is at around $60 per barrel in 2017.
It said in October that it was on track to deliver on its cost reduction programme, and will deliver $4 billion in savings by 2018, while increasing output.
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Total's shares were among top gainers in the Paris CAC 40, up 1.54 percent, outperforming the European Oil and Gas index , up 0.99 percent by 1136 GMT.
"We see this as a clear positive. We see this as a step in the right direction for Total, on the way to a full cash dividend, and shows the company has confidence in its delivery of free cash flow in 2017," RBC's Biraj Borkhataria, said in a note.
"We continue to believe Total should be one of the first majors that currently offers a scrip to move away and towards a full cash dividend, given the strength of its growth pipeline over the next few years," Borkhataria said.
Total said in a separate statement after a board meeting on Thursday that it will cancel 100,331,268 treasury shares that were previously repurchased off-market from four affiliates. It said the aim was to tidy its capital structure and the cancellation will have no financial impact. (Reporting by Bate Felix; Editing by Ruth Pitchford)|
Intraday Stock Chart
Today : Thursday 15 December 2016
Click Here for more Kering Charts.
PARIS--French luxury group Kering (KER.FR) said Thursday its board decided to distribute an interim dividend of EUR1.5 a share for the 2016 financial year.
Kering said the interim dividend is in line with its dividend policy of recent years.
This interim dividend will be paid on Jan. 18 on positions closed as of the evening of Jan 17.
Write to William Horobin at firstname.lastname@example.org
(END) Dow Jones Newswires
December 15, 2016 12:53 ET (17:53 GMT)|
|ALAI first quarterly dividend held at 0.875p. I thought it might have increased with the weaker £. Yield 5.5% if held for all 4.|
|reci 6.7% ex divi on 15th|
my retirement fund
|I don't know if any of you might be interested in Zambeef (ZAM). It's hardly a stodgy defensive. It's a growing AIM-listed African food conglomerate that has announced an intention to pay 30% of post-tax profit as dividend, now it has managed to overcome some troubles and pay down some debt. It still has a high risk profile due to politics, interest rates and exchange rates. But it is cheapish (p/e 5-7ish?) and should see a growing yield that might start around 3-4%. I bought some last week, although I do not plan to build a large holding. DYOR.|
Royal Dutch Shell plc Third Quarter 2016 Euro and GBP Equivalent Dividend Payments
News provided by
Royal Dutch Shell plc
Dec 02, 2016, 12:31 ET
Share this article
THE HAGUE, Netherlands, December 2, 2016 /PRNewswire/ --
The Board of Royal Dutch Shell plc ("RDS") (NYSE: RDS.A) (NYSE: RDS.B) today announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2016 interim dividend, which was announced on November 1, 2016 at US$0.47 per A ordinary share ("A Share") and B ordinary share ("B Share").
Dividends on A Shares will be paid, by default, in euro at the rate of €0.4413 per A Share. Holders of A Shares who have validly submitted pounds sterling currency elections by November 25, 2016 will be entitled to a dividend of 37.16p per A Share.
Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 37.16p per B Share. Holders of B Shares who have validly submitted euro currency elections by November 25, 2016 will be entitled to a dividend of €0.4413 per B Share.
This dividend will be payable on December 16, 2016 to those members whose names were on the Register of Members on November 11, 2016.
Taxation - cash dividend
Cash dividends on A Shares will be subject to the deduction of Dutch dividend withholding tax at the rate of 15%, which may be reduced in certain circumstances. Based on a policy statement issued by the Dutch Ministry of Finance on April 29, 2016 (which will be formalized in law), and depending on their particular circumstances, non-Dutch shareholders may be entitled to a full or partial refund of Dutch dividend withholding tax.
Furthermore, in April 2016, there were changes to the UK taxation of dividends. The dividend tax credit has been abolished, and a new tax free dividend allowance of £5,000 introduced. Dividend income in excess of the allowance will be taxable at the following rates: 7.5% within the basic rate band; 32.5% within the higher rate band; and 38.1% on dividend income taxable at the additional rate.
If you are uncertain as to the tax treatment of any dividends you should consult your own tax advisor.|
the grumpy old men
a) are you still invested here?
b) Was the William Sinclair Convertible Loan Note subject to a legal situation?|
enjoy your day guys
MAY ALL YOUR DIVIS CONTINUE TO BE BIG
|That does look to have considerably more listed. Thanks.|
|This is quite comprehensive
I like the way it is laid out. Take the yields with a pinch of salt but they are a starting point for research. I've yet to find a site that lists all UK dividends. Get a few in the header and we might get most covered.
It's nice to see the this thread is active. ADVFN needs a good dividend thread. I might take to posting occasionally.|
NEVER RELIE ON ONE SITE|
|That investorease site does not seem that good. It's missing many upcoming dividends. For example, BP and RDSA/B, are not listed on the site, yet they both go ex-div on Thursday.
I think you will miss many divs if you rely on that site|
|done and thanks|
|This is a good link for upcoming dividends which would fit nicely in the header:
The imminent 1.5p final dividend at DX. can be bought for less than 20p, for those that like that sort of thing.|
|Ex-dividend date RDS A and RDS B ADSs November 8,|
|The Board of Royal Dutch Shell plc (NYSE: RDS.A) (NYSE: RDS.B) today announced the intended timetable for the 2017 quarterly interim dividends.
2017 Interim Dividend Timetable
4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
2016 2017 2017 2017
February 2, May 4, July 27, November 2,
Announcement date 2017 2017 2017 2017
Ex-dividend date RDS February 15, May 17, August 9, November 15,
A and RDS B ADSs 2017 2017 2017 2017
Ex-dividend date RDS February 16, May 18, August 10, November 16,
A and RDS B shares 2017 2017 2017 2017
February 17, May 19, August 11, November 17,
Record date 2017 2017 2017 2017
share price February 23, May 25, August 17, November 23,
announcement date 2017 2017 2017 2017
Closing of scrip
currency election March 3, June 5, August 25, December 1,
(See Note) 2017 2017 2017 2017
Pounds sterling and
euro equivalents March 10, June 12, September 4, December 7,
announcement date 2017 2017 2017 2017
March 27, June 26, September 18, December 20,
Payment date 2017 2017 2017 2017|
AS YOU KNOW MANY AFFECTED BY CAP EX REDUCTIONS RESULTING
IN CASH FLOW AND P and L IMPACTS DUE TO THE OIL PRICE STUMPLE|