Royal Dutch Shell Posts Rise in Profit

LONDON--Royal Dutch Shell PLC on Thursday reported a rise in third-quarter earnings, with increases in both upstream and downstream, despite falling oil prices.

The Anglo-Dutch energy giant also named Charles O. Holliday as its new chairman. He will replace Jorma Ollila next year.

Shell's current cost-of-supplies profit--a measure similar to the net profit reported by U.S. oil companies--rose to $5.27 billion, from $4.25 billion a year earlier. Underlying replacement cost, which excludes identified items, was $5.85 billion, compared with $4.46 billion a year earlier. A poll of 10 analysts conducted by The Wall Street Journal forecast underlying replacement cost profit of $5.69 billion.

The oil major has increased its quarterly dividend to 47 cents a share, from 45 cents.

Chief Executive Ben van Beurden, said: "With $8.9 billion of dividends declared and $2.4 billion of shares repurchased in the first three quarters of this year, we are on track for a program of over $30 billion of dividend distributions and buybacks for 2014 and 2015 combined."

"All of this underlines the company's recent improved performance and potential for the future," Mr. van Beurden added.

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