Shell Dividends - RDSA

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Stock Name	Stock Symbol	Market	Stock Type
Shell Plc	RDSA	London	Ordinary Share

	Price Change	Price Change %	Stock Price	Last Trade
	0.00	0.0%	1,895.20	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
				1,895.20

more quote information »

Shell RDSA Dividends History

Announcement Date	Type	Currency	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
29/07/2021	1	USX	24	31/12/2020	31/12/2021	12/08/2021	13/08/2021	20/09/2021	0
29/04/2021	1	USX	17.35	31/12/2020	31/12/2021	13/05/2021	14/05/2021	21/06/2021	0
04/02/2021	Final	USX	16.65	31/12/2019	31/12/2020	18/02/2021	19/02/2021	29/03/2021	65.3
29/10/2020	1	USX	16.65	31/12/2019	31/12/2020	12/11/2020	13/11/2020	16/12/2020	0
30/07/2020	1	USX	16	31/12/2019	31/12/2020	13/08/2020	14/08/2020	21/09/2020	0
30/04/2020	1	USX	16	31/12/2019	31/12/2020	14/05/2020	15/05/2020	22/06/2020	0
30/01/2020	Final	USX	47	31/12/2018	31/12/2019	13/02/2020	14/02/2020	23/03/2020	188
31/10/2019	1	USX	47	31/12/2018	31/12/2019	14/11/2019	15/11/2019	18/12/2019	0
01/08/2019	1	USX	47	31/12/2018	31/12/2019	15/08/2019	16/08/2019	23/09/2019	0
02/05/2019	1	USX	47	31/12/2018	31/12/2019	16/05/2019	17/05/2019	24/06/2019	0
31/01/2019	Final	USX	47	31/12/2017	31/12/2018	14/02/2019	15/02/2019	25/03/2019	188
01/11/2018	1	USX	47	31/12/2017	31/12/2018	15/11/2018	16/11/2018	19/12/2018	0
26/07/2018	1	USX	47	31/12/2017	31/12/2018	09/08/2018	10/08/2018	17/09/2018	0
26/04/2018	1	USX	47	31/12/2017	31/12/2018	10/05/2018	11/05/2018	18/06/2018	0
01/02/2018	Final	USX	47	31/12/2016	31/12/2017	15/02/2018	16/02/2018	26/03/2018	188
02/11/2017	1	USX	47	31/12/2016	31/12/2017	16/11/2017	17/11/2017	20/12/2017	0
27/07/2017	1	USX	47	31/12/2016	31/12/2017	10/08/2017	11/08/2017	18/09/2017	0
04/05/2017	1	USX	47	31/12/2016	31/12/2017	18/05/2017	19/05/2017	26/06/2017	0
02/02/2017	Final	USX	47	31/12/2015	31/12/2016	16/02/2017	17/02/2017	27/03/2017	188
01/11/2016	1	USX	47	31/12/2015	31/12/2016	10/11/2016	11/11/2016	16/12/2016	0
28/07/2016	1	USX	47	31/12/2015	31/12/2016	11/08/2016	12/08/2016	19/09/2016	0
04/05/2016	1	USX	47	31/12/2015	31/12/2016	19/05/2016	20/05/2016	27/06/2016	0
04/02/2016	Final	USX	47	31/12/2014	31/12/2015	18/02/2016	19/02/2016	29/03/2016	188
29/10/2015	1	USX	47	31/12/2014	31/12/2015	12/11/2015	13/11/2015	18/12/2015	0
30/07/2015	1	USX	47	31/12/2014	31/12/2015	13/08/2015	14/08/2015	21/09/2015	0
30/04/2015	1	USX	47	31/12/2014	31/12/2015	14/05/2015	15/05/2015	22/06/2015	0
29/01/2015	Final	USX	47	31/12/2013	31/12/2014	12/02/2015	13/02/2015	20/03/2015	188
30/10/2014	1	USX	47	31/12/2013	31/12/2014	13/11/2014	14/11/2014	22/12/2014	0
31/07/2014	1	USX	47	31/12/2013	31/12/2014	13/08/2014	15/08/2014	25/09/2014	0
30/04/2014	1	USX	47	31/12/2013	31/12/2014	14/05/2014	16/05/2014	26/06/2014	0
30/01/2014	Final	USX	45	31/12/2012	31/12/2013	12/02/2014	14/02/2014	27/03/2014	180
31/10/2013	1	USX	45	31/12/2012	31/12/2013	13/11/2013	15/11/2013	23/12/2013	0
01/08/2013	1	USX	45	31/12/2012	31/12/2013	14/08/2013	16/08/2013	26/09/2013	0
02/05/2013	1	USX	45	31/12/2012	31/12/2013	15/05/2013	17/05/2013	27/06/2013	0
31/01/2013	Final	USX	43	31/12/2011	31/12/2012	13/02/2013	15/02/2013	28/03/2013	172
01/11/2012	1	USX	43	31/12/2011	31/12/2012	14/11/2012	16/11/2012	20/12/2012	0
26/07/2012	1	USX	43	31/12/2011	31/12/2012	08/08/2012	10/08/2012	20/09/2012	0
26/04/2012	1	USX	43	31/12/2011	31/12/2012	09/05/2012	11/05/2012	21/06/2012	0
02/02/2012	Final	USX	42	31/12/2010	31/12/2011	15/02/2012	17/02/2012	22/03/2012	168
27/10/2011	1	USX	42	31/12/2010	31/12/2011	02/11/2011	04/11/2011	16/12/2011	0
28/07/2011	1	USX	42	31/12/2010	31/12/2011	03/08/2011	05/08/2011	19/09/2011	0
28/04/2011	1	USX	42	31/12/2010	31/12/2011	11/05/2011	13/05/2011	27/06/2011	0
03/02/2011	Final	USX	42	31/12/2009	31/12/2010	09/02/2011	11/02/2011	25/03/2011	168
28/10/2010	1	USX	42	31/12/2009	31/12/2010	03/11/2010	05/11/2010	17/12/2010	0
29/07/2010	1	USX	42	31/12/2009	31/12/2010	04/08/2010	06/08/2010	08/09/2010	0
28/04/2010	1	USX	42	31/12/2009	31/12/2010	05/05/2010	07/05/2010	09/06/2010	0
04/02/2010	Final	USX	42	31/12/2008	31/12/2009	04/02/2010	06/02/2010	11/03/2010	168
29/10/2009	1	USX	42	31/12/2008	31/12/2009	04/11/2009	06/11/2009	09/12/2009	0
30/07/2009	1	USX	42	31/12/2008	31/12/2009	05/08/2009	07/08/2009	09/09/2009	0
29/04/2009	1	USX	42	31/12/2008	31/12/2009	06/05/2009	08/05/2009	10/06/2009	0
29/01/2009	Final	USX	40	31/12/2007	31/12/2008	04/02/2009	06/02/2009	11/03/2009	160
31/10/2008	1	USX	40	31/12/2007	31/12/2008	05/11/2008	07/11/2008	10/12/2008	0
31/07/2008	1	USX	40	31/12/2007	31/12/2008	06/08/2008	08/08/2008	10/09/2008	0
29/04/2008	1	USX	40	31/12/2007	31/12/2008	14/05/2008	16/05/2008	11/06/2008	0
31/03/2008	Final	USX	36	31/12/2006	31/12/2007	06/02/2008	08/02/2008	12/03/2008	144
01/02/2007	Final	USX	25	31/12/2005	31/12/2006	07/02/2007	09/02/2007	14/03/2007	100
26/10/2006	1	USX	25	31/12/2005	31/12/2006	01/11/2006	03/11/2006	13/12/2006	0
27/07/2006	1	USX	25	31/12/2005	31/12/2006	02/08/2006	04/08/2006	13/09/2006	0
04/05/2006	1	USX	25	31/12/2005	31/12/2006	10/05/2006	12/05/2006	14/06/2006	0
11/10/2005	1	USX	23	30/05/2005	30/09/2005	02/11/2005	04/11/2005	15/12/2005	0
04/08/2005	1	USX	23	02/03/2005	30/06/2005	03/08/2005	05/08/2005	15/09/2005	0

Top Dividend Posts

Date	Subject
06/12/2021 08:39	grupo guitarlumber: The Hague, December 6, 2021 - The Board of Royal Dutch Shell plc ("RDS") today announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2021 interim dividend, which was announced on October 28, 2021 at US$0.24 per A ordinary share ("A Share") and B ordinary share ("B Share"). Dividends on A Shares will be paid, by default, in euros at the rate of EUR0.2121per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by November 26, 2021 will be entitled to a dividend of US$0.24 or 18.06p per A Share, respectively. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 18.06p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by November 26, 2021 will be entitled to a dividend of US$0.24 or EUR0.2121per B Share, respectively. Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 1 December to 3 December 2021. This dividend will be payable on December 20, 2021 to those members whose names were on the Register of Members on November 12, 2021. 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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax. If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor. Note A different 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. Read Full Thread Follow Reply
11/10/2021 11:41	gibbs1: RDSA [NL] ROYAL DUTCH SHELL PLC EUR 20.675 Real-time Quote. 2.05% Euronext Amsterdam Stock RDSA [GB] ROYAL DUTCH SHELL PLC GBX 1744.3 Delayed Quote. 1.81% London Stock Exchange Stock RDSA [CZ] ROYAL DUTCH SHELL PLC CZK 497.95 End-of-day quote. -3.10% Prague Stock Exchange Stock RDSA [GB] ROYAL DUTCH SHELL PLC EUR London Stock Exchange Stock RDSA [GB] ROYAL DUTCH SHELL EUR CINNOBER BOAT Stock RDSA [CH] ROYAL DUTCH SHELL PLC CHF Swiss Exchange Stock RDSA [AT] ROYAL DUTCH SHELL PLC EUR Wiener Boerse Stock Read Full Thread Follow Reply
29/7/2021 07:39	waldron: The Hague, July 29, 2021 - The Board of Royal Dutch Shell plc ("RDS" or the "Company") today announced an interim dividend in respect of the second quarter of 2021 of US$ 0.24 per A ordinary share ("A Share") and B ordinary share ("B Share"). Chair of the Board of Royal Dutch Shell, Sir Andrew Mackenzie commented: "Shell's proven and sustainable cash generation across a range of macroeconomic scenarios has provided the Board confidence to increase shareholder distributions. As a result, the Board has decided to rebase the dividend per share to 24 US cents from the second quarter 2021 onwards." Details relating to the second quarter 2021 interim dividend Per ordinary share Q2 2021 RDS A Shares (US$) 0.24 RDS B Shares (US$) 0.24 It is expected that cash dividends on the B Shares will be paid via the Dividend Access Mechanism and will have a UK source for UK and Dutch tax purposes. Cash dividends on A Shares will be paid, by default, in euros, although holders of A Shares will be able to elect to receive dividends in US dollars or 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 US dollars or euros. The pound sterling and euro equivalent dividend payments will be announced on September 6, 2021. Per ADS Q2 2021 RDS A ADSs (US$) 0.48 RDS B ADSs (US$) 0.48 Cash dividends on American Depository Shares ("ADSs") will be paid, by default, in US dollars. RDS A and B ADSs are listed on the New York Stock Exchange under the symbols RDS.A and RDS.B, respectively. 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. ADSs are evidenced by an American Depositary Receipt (ADR) certificate. In many cases the terms ADR and ADS are used interchangeably. Dividend timetable for the second quarter 2021 interim dividend Event Date Announcement date July 29, 2021 Ex- Dividend Date for ADS.A and ADS.B August 12, 2021 Ex- Dividend Date for RDS A and RDS B August 12, 2021 Record date August 13, 2021 Closing of currency election date (see Note August 27, 2021 below) Pound sterling and euro equivalents announcement September 6, 2021 date Payment date September 20, 2021 Note A different 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. 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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax. If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor. Dividend Reinvestment Programmes ("DRIP") The following organisations operate Dividend Reinvestment Plans ("DRIPs") which enable RDS shareholders to elect to have their dividend payments used to purchase RDS shares of the same class as those already held by them: -- Equiniti Financial Services Limited ("EFSL"), for those holding shares (a) directly on the register as certificate holder or as CREST Member and (b) via the Nominee Service; -- ABN-AMRO NV ("ABN") for Financial Intermediaries holding A shares or B shares via Euroclear Nederland; -- JPMorgan Chase Bank, N.A. ("JPM") for holders of A and B American Depository Shares; and -- Other DRIPs may also be available from the intermediary through which investors hold their shares. Such organisations provide their DRIPs fully on their account and not on behalf of Royal Dutch Shell plc. Interested parties should contact DRIP Offerors directly. More information can be found at https://www.shell.com/drip To be eligible for the next dividend, shareholders must make a valid dividend reinvestment election before the published date for the close of elections. (END) Dow Jones Newswires Read Full Thread Follow Reply
07/6/2021 07:52	florenceorbis: 07/06/2021 7:00am UK Regulatory (RNS & others) TIDMRDSA TIDMRDSB The Hague, June 7, 2021 - The Board of Royal Dutch Shell plc ("RDS") today announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2021 interim dividend, which was announced on April 29, 2021 at US$0.1735 per A ordinary share ("A Share") and B ordinary share ("B Share"). Dividends on A Shares will be paid, by default, in euros at the rate of EUR0.1426 per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by May 28, 2021 will be entitled to a dividend of US$0.1735 or 12.26p per A Share, respectively. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 12.26p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by May 28, 2021 will be entitled to a dividend of US$0.1735 or EUR0.1426 per B Share, respectively. Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 2 June to 4 June 2021. This dividend will be payable on June 21, 2021 to those members whose names were on the Register of Members on May 14, 2021. 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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax. If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor. Note A different 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. Read Full Thread Follow Reply
15/3/2021 10:37	ariane: ROYAL DUTCH SHELL PLC FOURTH QUARTER 2020 EURO AND GBP EQUIVALENT DIVIDEND PAYMENTS Email Print Friendly Share March 15, 2021 03:00 ET \| Source: Shell International B.V. The Hague, March 15, 2021 - The Board of Royal Dutch Shell plc (“RDS”) today announced the pounds sterling and euro equivalent dividend payments in respect of the fourth quarter 2020 interim dividend, which was announced on February 4, 2021 at US$0.1665 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, by default, in euros at the rate of €0.1396 per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by March 5, 2021 will be entitled to a dividend of US$0.1665 or 11.96p per A Share, respectively. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 11.96p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by March 5, 2021 will be entitled to a dividend of US$0.1665 or €0.1396 per B Share, respectively. Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 10 March to 12 March 2021. This dividend will be payable on March 29, 2021 to those members whose names were on the Register of Members on February 19, 2021. 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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax. If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor. Note A different 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. Royal Dutch Shell plc GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public. Read Full Thread Follow Reply
04/2/2021 22:29	sarkasm: Don't Sell Shell Feb. 04, 2021 5:24 PM ETRoyal Dutch Shell plc (RDS.A), RDS.BRYDAFRYDBF1 Comment2 Likes Summary Shell's dreadful stock price action in 2020 is coming to an end. All the bad news has been priced in and the stock offers good value now. Oil fundamentals look supportive but even with flat oil prices, Shell's financials look to be getting stronger, providing strong dividend cover. The Strategy Day on 11th February could offer a catalyst for investors to reconsider Shell as a serious Energy Transition investment option. The December 21st trading update from Royal Dutch Shell (RDS.A) largely foresaw the torrid Q4 results and 2020 full year results just released. In a nutshell, 2020 was an exceptionally challenging year for the oil major. What should Shell shareholders do? While the company is trying to reposition itself for the new energy landscape ahead, the headlines have been consistently bad for the Anglo-Dutch company. Profit warnings, write-downs, collapsing prices for oil, collapsing refinery margins, the first cut in dividends for decades, a falling share price, and finally the departure of several clean energy executives amid internal arguments over its clean energy strategy have all contributed to the bear market in Shell's stock in the last year. The 36% fall in the stock price over the last year sounds bad, but there is a fundamental truth in oil markets and that is that the cure for low oil prices is low oil prices. That’s why the weakness in the sector, the cutbacks in production and investment will cause higher oil prices going forward, as I have already pitched in a recent Seeking Alpha article on crude oil, that so far is playing out nicely. The pessimism about Shell, coupled with some positive signs on the horizon and my bullish outlook on oil in fact make Shell a very good contrarian play. The fact that December’s profit warning did not do much damage to the share price suggests that all the bad news is already priced in and indeed the stock has started to rise over the last couple of months. The Global Investor thinks this recent price action isn’t a dead cat bounce, but the start of a rally back to a fairer, higher price for Shell's stock. Oil majors have traditionally been core income stocks for many portfolios but after the first dividend cuts in decades last year, when the dividend was cut 66% it has since been raised slightly in October and now been raised again slightly some more. This gives the stock a current dividend yield of about 3.6%. What’s more, Shell is still slashing costs and capital expenditure, like the rest of the oil and gas industry, and US shale output is falling thanks to weak pricing. This suggests low prices will squeeze out uneconomic supply and help oil prices continue their recovery. And with the rollout of vaccination programs, some oil demand lost in 2020 should come back in 2021, further tightening the supply-demand balance towards higher oil prices. Another contrarian indicator is that the oil and gas industry is now hated by institutional investors, either for financial reasons or for environmental, social and governance - ESG - reasons and this has simply gone too far. The weighting of the Oil & Gas sector in the main stock market indexes is at lows last seen in the 1990s when oil prices ranged from $10-$20 per barrel. Risks This brings us to the risks of owning Shell right now. ESG is a new force in the markets, so some investors simply won’t look at Shell for a long time. Long-term oil demand has probably peaked and the switch to renewable sources of energy will be bumpy as the company is finding in its transition efforts to date. Shell also has the risk that it gets stuck with “stranded assets” with its large reserves of oil and gas. This means Shell’s book value is bound to be higher than its market value as investors price in further write-downs to its asset values. Shell has traditionally been a very reliable dividend payer, but the energy transition makes it almost impossible to balance the needs of high dividend payouts with the large investments required in greener energies. While the dividend has been cut deeply to a lower level, investors cannot assume it will rise back to its previous level quickly as the volatility in energy markets and the restructuring needs of Shell will probably dictate otherwise. Indeed, Shell's management has called it a dividend "reset". The future It is expected that Shell will outline a radical new strategy at its investor day scheduled for February 11th. The new strategy, likely to focus on clean energy, and to more closely follow BP’s radical restructuring plans that started last year, could appeal to investors who are looking more at the rate of change in ESG factors than in the absolute level of how good a company is on current ESG measures, specifically with respect to climate change and carbon emissions. Strategy Day on February 11th Ultimately, The Global Investor expects Shell to try to strike a balance between driving meaningful change towards 'Net Zero' emissions but also to maximize value from existing businesses over the intermediate period. The following are some of the topics I expect Shell to cover in the forthcoming Strategy Day which I expect to help turn market sentiment back towards Shell’s favor. Net zero by 2050 or earlier – Shell already outlined this target back in April last year but didn’t give much detail and so wasn’t seen as that credible. Shell will probably present its business plan in more detail to get to these targets. Upstream oil & gas to underpin cash generation. Having made the mega acquisition of gas major BG Group back in 2016, Shell is more committed to oil & gas than BP who have outlined plans to cut production by 40% over the next decade. Given Shell's project pipeline, its portfolio still has some growth potential but during last year’s Q3 results CEO Ben van Beurden said "It’s probably fair to say that 2019 was the high point in terms of oil production". So Shell is probably keen to keep a relatively flat production profile as it looks to sell non-core positions as it uses its Upstream division to act as a key contributor to cash generation over the next decade, through both operations as well as disposals. While this might disappoint ESG investors who argue for more aggressive action, it will keep dividend investors happy as this strategy reduces risks to free cash flow generation. Strength in natural gas, the bridge fuel. Shell is the world’s largest player in LNG so it’s likely Shell will highlight the role of natural gas as the “transition fuel” helping reduce carbon emissions because of its cleaner properties compared to coal and its vital role in electricity generation. The term "bridge" comes about because natural gas can support renewables over the period where wind and solar still suffer from intermittency issues. In 2019 Shell said it expected the LNG market to grow at 4% per year over the next few years. Last year management said Shell’s LNG business will not necessarily match the market "percent for percent" which might mean lower capex needs in this division. LNG will remain a key cash generator over the next decade so expect updates on Shell’s LNG outlook on 11th February. Growth opportunities in hydrogen and biofuels. For renewables, Shell will likely emphasize both hydrogen and biofuels given hydrogen is a natural fit as it is already produced and consumed in Shell’s refining business. Shell already has about 50 hydrogen fueling stations mostly in Germany and California. In biofuels, Shell is one of the largest blenders and distributors globally, partly due to its 50:50 joint venture with Raizen in Brazil. Shell will likely highlight its expansion in wind and solar, businesses which are getting extremely competitive now. Shell will look to leverage its strong Marketing and Trading positions to sell more electricity to the customers who currently buy fossil fuels from their large global customer networks. New Energies to account for about 25% of capital expenditure over the next few years. At last year’s 3Q earnings announcement, Shell guided that capex would remain in the $19-22 billion range over the coming years. It gave high level guidance on the breakdown between segments: 35-40% for Upstream, 35-40% for “Transition business”, which includes Integrated Gas, Chemicals and Refining, and about 25% to growth businesses such as Marketing, Power, Hydrogen, Biofuels and carbon capture, utilization and storage with nature-based solutions. The Global Investor expects Shell to update this breakdown and give more detail. Overall, hydrocarbons will remain part of Shell’s core strategy over the next decade. This gives it less execution risk on restructuring compared to its great rival BP, but makes it more exposed to oil and gas commodity prices. While ESG investors do play a role at the margin, and maybe a larger role in Europe, The Global Investor still believes the stock market is overall, at least in the long term, amoral. Short term trends matter and ESG has driven investors away from oil & gas but it could also be argued that that’s mostly happened because of weaker financial returns in the sector. If Shell can raise its profits through higher oil prices, Shell can raise its dividends and investors will put a higher valuation on the stock because of higher dividends. Dividends So, it comes back to dividends ultimately. That has always been the driver of Shell’s share price. Assuming oil prices at about $50/bbl over the next few years – more conservative than my actual view – I think Shell will generate $13-14 billion in free cash flow each year. At current dividend levels this implies dividend cover of about 2.5x, a very high number for Shell historically. This means Shell's balance sheet will start to de-leverage quickly. Management has indicated that when net debt falls to about $65 billion it will re-start its share buyback program. This could happen around the middle of next year if oil prices hold. Currently, Shell is guiding for 4% dividend growth per year, but there is big upside potential to this number. Before the dividend reset last year, Shell’s dividend had become unstainable given the investment needed in the energy transition. Valuation Shell’s dividend yield over the last 10 years had bounced around the 6% level as it was always assumed the dividend was unstainable. After the reset a much lower more sustainable dividend yield would be more like 3.5% or 3.6%. Taking 3.6% to be conservative, and a forecast full year 2022 dividend of $1.39 per share for the “A” class ADRs would give us a stock price of about $39, or about 6% higher than where it is at the time of this writing. While this isn’t massive upside, the dividend yield of 3.6% and dividend growth of 4-5% per year offers us good stability. All this assumes conservative oil price forecasts and gives Shell ample room to de-lever and increase share buybacks or accelerate dividend growth, which should further put a bid on the stock price. Conclusion Value investors and income seekers should continue to own Shell. Shell is very likely to always be a “Supermajor221; but with its focus shifting gradually towards energy in general and away from its historical reliance on oil but gas will play a major role for a long period. Energy is a core need in society so Shell is likely to be able to keep its large size and retain its status as a core “income portfolio” position thanks to strong and stable dividends. In the short term, rebounding oil prices should help near term cash flows and hence drive stock price appreciation. A successful investor day on February 11th could help change Shell’s perception amongst the sustainable investment crowd and market sentiment towards companies through lowering the climate / sustainability / reputational risk for institutional investors in owning Shell. This sustainability focus for investors accounts for a very large section of European institutional investors now. So things are improving now and it's likely we've seen the low in the Shell share price. The bottom line is that Shell is worth holding as a small part of your portfolio. Read Full Thread Follow Reply
19/1/2021 16:12	maywillow: Shell: What It Will Take To Be Investible Again Jan. 19, 2021 5:15 AM ET\| 34 comments \| About: Royal Dutch Shell plc (RDS.A), RYDAF, RDS.B, Includes: XOM Retirement Pot Retirement Pot Long Only, Deep Value, Growth, Foreign Companies (998 followers) Summary Shell's dividend cut and unpredictability last year cost it a lot of shareholder confidence. I outline three metrics I think show whether it's investable again. On all three metrics, I continue to see it as uninvestable with confidence. U.K.-based oil major Shell (RDS.A, OTCPK:RYDAF) didn’t have a great time of it last year when it came to shareholder relations. With its mammoth dividend cut and poor signaling thereof before it was made, a lot of shareholders ditched the holding. I sold my entire stake and reinvested the proceeds in more Exxon Mobil (XOM). Below, I outline what I think are the key challenges to Shell being investable at this point. 1. Shareholders Need Faith in Management The single biggest challenge facing Shell’s prospects right now, in my view, is the low quality of its management from an investor’s perspective. The way that the dividend cut was handled was terrible. Shell is a key holding for many U.K. and Dutch holders, including pension funds and the like. So, a 70% cut just a couple of months after guiding investors not to expect a cut is simply not professional at all, in my view. It doesn’t behoove management of as large and economically important a listed company as Shell to behave in this way. Management lost credibility with many shareholders, and frankly, it was on such a scale that I won’t have faith in current management again, period. I thought the chief executive ought to have done the decent thing and resigned. But I also don’t see evidence that current management deserves to regain investor confidence even if one isn’t as critical of how they handled the dividend cut. For example, in comments accompanying the third quarter earnings presentation, the finance chief said: “we re-based our dividend to protect our balance sheet in response to the profound impacts of the pandemic”. That feels disingenuous to me. A 70% cut on an ongoing basis is not justifiable purely in terms of pandemic impact. The company seems to continue to message its shareholders without respecting their intelligence. For me, this is the biggest issue at the moment when it comes to the investment case for Shell. Whatever its asset base or strategy, if it doesn’t have appropriately skilled, reliable management, it’s a speculative punt, not an investment. 2. Visibility on Future Earnings Streams One of the big debates in the energy sector is future demand for oil and gas versus other forms of energy. I’ve set out elsewhere why I don’t think oil demand is going to fall anytime soon, but there are well-considered and very different perspectives across the spectrum of the debate. For an example, I recommend Tudor Invest Holdings’ piece Royal Dutch Shell: More Than Just Oil And Gas. One approach, which I would say Exxon is taking, is doubling down on the core business of oil and gas. That is a straightforward play on future oil and gas demand and pricing. An alternative approach is to move to an asset portfolio which over time produces more energy from sources other than oil and gas. Some are more environmentally damaging, in my view (wind turbines, for example), so I don’t use the moniker “green”. The point is, they’re not from oil and gas. A number of – primarily European – energy majors have committed to this approach. While it’s the case for Shell, it is also happening at BP (NYSE:BP), Total (NYSE:TOT) and Equinor (NYSE:EQNR), for example. So, Shell management is basically moving in lockstep with the European energy sector in its approach here, rather than acting independently. However, in terms of being investable, the question is what this means for future earnings. Exxon’s approach is simple to understand: one needs to look at future demand, pricing and the company’s production volume and costs. While those are all moving parts, it’s fairly easy to construct different models depending on one’s broad thesis about future oil and gas demand. By contrast, earnings from the sorts of energy sources Shell is getting into now are much harder to forecast. Markets remain heavily subsidized and immature, so the long-term economics are unclear. I set out in my piece Shell And The Myth Of Oil Major Green Energy my concerns that the company’s strategy was slow to execute, with unproven results. That remains the case. In its third quarter earnings, upstream and midstream results both came with financial figures attached. The so-called “growth” business did not. Shell now sees its upstream energy business as a cash cow to fund its move into other areas, and pay shareholder distributions. This is clear from a slide it shared with its Q3 earnings. Source: Q3 earnings presentation That also matches the approach the company management is taking to its oil production. The CEO is reported as saying that Shell’s oil production probably peaked in 2019. So, the company expects to reduce its output of its cash cow product, meanwhile expanding in other areas whose profitability is unproven and unknown. The key point here is not whether oil demand peaks, factor outside the company’s control. The issue is that the company is proactively planning to move to a product mix, which seems less profitable, and which is likely, therefore, to lead to structurally lower earnings in the long term, notwithstanding fluctuations in the oil price. 3. A Clear Dividend Logic Shell set out its new, clear dividend policy with its third quarter result: a dividend increase of c. 4% annually, subject to board approval. Additionally, it set out (as a lower priority) total shareholder distributions of 20-30% of operating cash flow on reaching net debt of $65 billion. Net debt at the end of September stood at around $73.5 bn. Once the debt comes down, these additional distributions could include both share buybacks and dividends. That means that, at its current price, Shell has a prospective forward yield around 3.5%, which is decent for an FTSE-100 constituent. The cut has also increased dividend cover, something the company highlighted alongside its inaugural 4% increase last year, although it's hard to say for now what the long-term cover is likely to be. So, there is a dividend policy. But I do not see a solid logic in it. First, why a meaty (4%) raise just months after a 70% cut? I just stole your wallet but, hey, here’s your cab ride home! Longer term, why 4%? It sounds attractive to potential investors. But with oil price movements and the unproven economics of Shell’s future focus, setting out a plan for a consistent annual rise lacks logic. While the clear dividend policy is welcome, I would like for a clear dividend logic also. Currently, I think it’s missing. That matters because if the dividend keeps growing by 4%, sooner or later (perhaps later), the company will come up against the same challenge it faced last year: how to sustain a payout level which has been rising, if oil prices crash? Conclusion: I Regard Shell As Uninvestable I sold my Shell position at a loss and reinvested it in Exxon, because I maintain faith in oil and gas as a long-term investment theme but don’t maintain faith in Shell. For me to consider it as being investable again, it would need to demonstrate that management is capable, it has a plan to sustain or increase earnings in so far as it can do so with the levers it can pull (of which oil price isn’t one) and that the dividend has a logic which doesn’t just run it up for years or decades and then heavily cut it again in future. For now, I consider it to fail on all three metrics. Read Full Thread Follow Reply
03/12/2020 08:12	the grumpy old men: Royal Dutch Shell plc Royal Dutch Shell Plc Third Quarter 2020 Euro And Gbp Equivalent Dividend Payments 03/12/2020 7:00am UK Regulatory (RNS & others) TIDMRDSA TIDMRDSB The Hague, December 3, 2020 - The Board of Royal Dutch Shell plc ("RDS") today announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2020 interim dividend, which was announced on October 29, 2020 at US$0.1665 per A ordinary share ("A Share") and B ordinary share ("B Share"). Dividends on A Shares will be paid, by default, in euros at the rate of EUR0.1386 per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by November 27, 2020 will be entitled to a dividend of US$0.1665 or 12.48p per A Share, respectively. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 12.48p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by November 27, 2020 will be entitled to a dividend of US$0.1665 or EUR0.1386 per B Share, respectively. Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 30 November to 2 December 2020. This dividend will be payable on December 16, 2020 to those members whose names were on the Register of Members on November 13, 2020. 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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax. If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor. Note A different 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. Read Full Thread Follow Reply
04/5/2020 12:30	la forge: Four of the UK’s 10 biggest dividend payers have cut or frozen payments: will the rest follow suit? by Kyle Caldwell from Money Observer \| 4th May 2020 09:45 We review whether the other big six income stocks will join Royal Dutch Shell and UK banks in cutting or suspending dividend payments. Royal Dutch Shell has become the fourth member of last year’s top 10 UK dividend payers to reduce income payments to UK investors. The oil major cut its dividend for the first time since the Second World War in a bid to put the business on a more resilient footing, following collapse in the oil price following the outbreak of coronavirus. Its decision to cut the dividend was undoubtedly a difficult decision to make; however, that decision was taken out of the hands of management at fellow top-10 dividend payers HSBC, Royal Bank of Scotland and Lloyds Banking Group. The country’s biggest banks, in a series of co-ordinated statements at the start of April, announced that they would temporarily suspend dividend payments and share buybacks for both their 2019 and 2020 financial years, following talks with the Bank of England. The suspensions were made to put banks in a better position to support the economy during the current uncertain climate. Will the other six members of the top 10 UK dividend payers, which accounted for 64% of total dividends for the UK market in 2019, follow suit? Of the top three payers, Royal Dutch Shell and HSBC will be leaving income investors feeling short-changed in 2020, but the same cannot be said for BP. The oil major, which updated the market two days before Royal Dutch Shell announced its cut, has raised its dividend for the first quarter of the year to 10.5 cents a share, up from 10.25 cents a share. It did so against the backdrop of a slump in its underlying profits, down by two-thirds in the first quarter of 2020 versus the same quarter a year earlier. The second quarter payment, though, is far from guaranteed. Its dividend yield is just over 10%. Also providing recent market update was GlaxoSmithKline, the sixth biggest dividend payer in 2019. It has opted to keep its dividend payment flat at 19p per share for the first quarter. Its dividend yield is 4.5%. Fellow pharmaceutical giant AstraZeneca, the ninth biggest UK income payer in 2019, has a lower dividend yield of just under 3%, but is viewed as being stable as the firm has produced slow and steady dividend growth over the past decade. Another top 10 member expected to retain dividend payments is British American Tobacco. Being highly cash-generative, tobacco companies tend to pay reliable dividends. In a recent statement the firm was bullish, stating there has been little impact on consumer demand for its products following coronavirus. As a result, the firm said its dividend will grow in sterling terms. Elsewhere, the two mining members of the top 10 are continuing to pay dividends in the short term: Rio Tinto and BHP Group. Mining, of course, is a highly cyclical sector, so there are serious question markets over whether dividends will be maintained. But in 2019 the sector produced the greatest source of dividend growth, with both Rio Tinto and BHP Group paying special dividends, having sold assets and strengthened balance sheets over the previous couple of years. Earlier this year, ahead of coronavirus escalating to a global pandemic, Michael Kempe, chief operating officer at Link Market Services, cautioned that 2020 looked likely to record for the worst dividend growth rate in five years. This forecast stemmed from the fact that the UK market had become reliant on the ability of mining companies to increase dividend payments as less than half of the 15 highest dividend payers in 2019 announced a higher dividend than in 2018. He added: “If anything, another strong performance from the mining sector (in 2019) highlights how UK dividend growth is precariously reliant on eye-catching increases from two or three big companies in a highly cyclical industry. “It’s worth remembering that just four years ago, the mining sector slashed payouts by half to cope with a commodities downturn.” This article was originally published in our sister magazine Money Observer Read Full Thread Follow Reply
01/1/2020 18:43	waldron: waldron 1 Jan '20 - 18:13 - 8762 of 8768 Edit 0 0 0 chinahere 1 Jan '20 - 18:06 - 8761 of 8761 0 0 0 If it states the RDSA will receive their assets first in a bankruptcy, surely it would be calculated only as a percentage of final assets, so RDSB holders will still follow with the same per-share assets eventually wouldn't they? My old china where does it say that, you gotta link, cause i am still suffering from excessive festive celebrating, not to mention there is little sign of bankruptcy risk kindly clarify chinahere 1 Jan '20 - 18:15 - 8763 of 8768 0 0 0 I just searched on Google and got this: Http://www.differencebetween.net/business/difference-between-rdsa-and-rdsb/ waldron 1 Jan '20 - 18:17 - 8764 of 8768 Edit 0 1 0 chinahere 1 Jan '20 - 18:15 - 8763 of 8763 0 0 0 I just searched on Google and got this: Http://www.differencebetween.net/business/difference-between-rdsa-and-rdsb/ Difference Between RDSA and RDSB • Categorized under Business \| Difference Between RDSA and RDSB RDSA vs RDSB Royal Dutch Shell is a company that is associated with oil and gas. It has global operations with its headquarters in The Hague, Netherlands and has a registered office in London, United Kingdom. As a company, it is often referred to simply as Shell. In the present, it is the second largest energy company in the world and fifth largest company overall. As a gas and oil company, its activities include exploration of gas and oil reservations, production, refining, and distribution of oil around the globe. It is also a company that dabbles in petrochemicals, power generation, and trading. With the current trend of renewable energy in response to climate change, the company has been involved in biofuels, hydrogen, solar and wind power. As a business, the company is registered in the stock market as RDSA and RDSB. These are the classifications of shares wherein each share is a share of the company. Both shares have identical rights but have different characteristics. For example, RDSA is associated with the original Royal Dutch Shell Company. It is Dutch listed and complies with the Dutch tax system. For people who have these kinds of shares, there is a Dutch withholding tax on the shares divided on the rate of 15-25 per cent. This is in accordance with the Divide Access Mechanism that the company imposes on its company shares. Also, the default currency to pay the dividends is in Euros, the currency adopted by the Dutch government. Both RDSA and RDSB shares are traded in three stock exchange centers – London, Amsterdam, and New York. The RDSA shares also have control of the 57 per cent of the company. The shareholders do not have voting power in the company, but they receive the assets before the other shareholders of RDSB in case of a bankruptcy. On the other hand, the shareholders of RDSB are associated with Shell Transport and Trading, the company’s shipping arm which is based in London, United Kingdom. Since Shell Transport and Trading is a company in itself, thus it is listed as a United Kingdom company and has shareholders of its own. As a British company, it is under the tax system of the United Kingdom. With respect to the Divide Access Mechanism of the company, these shares don’t have withholding tax since these shares are U.K.-sourced dividends. The company should prove to the Dutch tax inspectors that these shares are sourced directly from U.K. income. RDSB controls the remaining 43 per cent of the company’s total shares and pays in pound sterling (the U.K.’s currency) when it comes to pay dividends. Also, shareholders of RDSB have voting power in the company but cannot receive assets until the RDSA shareholders get their share of the assets in a bankruptcy scenario. Summary: 1.RDSA and RDSB shares differ in the location where they are listed – RDSA is formerly of the original Royal Dutch Shell Company of the Netherlands while RDSB is previously associated with Shell Transport and Trading, a U.K.-based company and a subdivision of Royal Dutch Shell. 2.At the present, the RSDA has a higher percentage of the company with 575 while RDSB controls only 43 per cent. 3.RDSA is listed in the Netherlands with a withholding tax on dividends of 15-25 per cent while RDSB is a U.K.-sourced dividend under the company’s Divide Access Mechanism. 4.The default currency to pay dividends for RSDA is the Euro (the Dutch currency) while the pound sterling (the U.K.’s currency) is for the RDSB. 5.RDSA shareholders have no vote but have immediate access to assets in case of a company bankruptcy while RDSB shareholders have voting power but have to wait for their assets in the same scenario. Read more: Difference Between RDSA and RDSB \| Difference Between Http://www.differencebetween.net/business/difference-between-rdsa-and-rdsb/#ixzz69nvw6kAn chinahere 1 Jan '20 - 18:19 - 8765 of 8768 0 0 0 Yes that is better - how do you add links please? waldron 1 Jan '20 - 18:23 - 8766 of 8768 Edit 0 1 0 START ANY LINK WITH CAPITAL H Read Full Thread Follow Reply

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