SHELL PLC Stock Price, News & Analysis

Shell has announced a $6 billion share buyback program, effective from July 28, 2022, and expected to complete by October 27, 2022. This initiative aims to reduce the company’s issued share capital, with 758 million ordinary shares to be repurchased and subsequently canceled. The buyback will be executed through contracts with a single broker across London and Netherlands markets. This strategic move reflects confidence in shareholder value and aims to enhance overall EPS.

Shell plc announced an interim dividend of US$ 0.25 per ordinary share for Q2 2022, with payment scheduled for September 19, 2022. Shareholders can elect payment in US dollars, euros, or pounds sterling, with the respective currency equivalents announced on September 5, 2022. The ex-dividend date for both ordinary shares and ADSs is set for August 11, 2022, and the record date is August 12, 2022. Notably, dividends will not incur Dutch withholding tax due to Shell's UK tax residence.

On July 28, 2022, Shell plc reported strong financial performance amidst volatile energy markets, with Adjusted Earnings of $11.5 billion in Q2 2022 and an Adjusted EBITDA of $23.1 billion. The company announced a $6 billion share buyback program, expected to complete by Q3 2022, reinforcing its commitment to shareholder distribution, which has significantly increased to surpass 30% of Cash Flow from Operations (CFFO). Investments in energy security and renewable projects continue to position Shell for a low-carbon future while maintaining disciplined capital expenditure in the $23-27 billion range.

Shell PLC reported strong financial results for Q2 2022, with income attributable to shareholders rising to $18.04 billion, a 154% increase from Q2 2021. Adjusted earnings reached $11.47 billion, reflecting higher realized prices and refining margins. Cash flow from operating activities was $33.47 billion, up 60% year-over-year. The company completed an $8.5 billion share buyback program and announced a new $6 billion buyback, with shareholder distributions exceeding 30% of operating cash flow. However, the company withdrew from Russian activities and faced challenges in LNG trading.

The press release from Weber announces the appointment of Alan Matula as interim CEO following the departure of Chris Scherzinger. Matula has over 40 years of experience, previously serving as Chief Technology Officer. The company provided preliminary fiscal third-quarter estimates, expecting net sales of $525M to $530M, significantly impacted by inflation and supply chain issues. Adjusted EBITDA is anticipated to be marginally profitable, with a net loss expected. Weber plans financial transformation initiatives and has suspended its quarterly dividend amid challenging market conditions.

Shell has provided an update to its second quarter 2022 outlook, with significant adjustments reflecting new reporting segments. Adjusted EBITDA for Integrated Gas is projected between $300 to $350 million in losses due to derecognition of Sakhalin volumes. Upstream production is expected at 1,850-1,950 thousand barrels per day, with notable gains from joint ventures of $500 to $700 million. Marketing results are expected to rise, while a $200 million one-off charge is anticipated. Shell's share buyback program of $8.5 billion has been completed, and impairment reversals are expected to range from $3.5 to $4.5 billion.

On July 5, 2022, Shell plc disclosed transactions involving Persons Discharging Managerial Responsibilities (PDMRs) acquiring dividend shares following the interim dividend payment on June 27, 2022. Key transactions included Sinead Gorman acquiring 357.54 SHEL shares at £21.58, while Harry Brekelmans acquired 1,225.90 SHELL shares at €25.10. Other notable acquisitions were made by Ronan Cassidy, Donny Ching, Ed Daniels, Wael Sawan, Huibert Vigeveno, and Zoe Yujnovich. An error in a previous disclosure was also mentioned, highlighting transparency in reporting. For further details, refer to the Shell Annual Report.

On July 5, 2022, Shell plc announced the purchase of 3,109,217 shares for cancellation as part of its ongoing share buy-back program initiated on May 5, 2022. The shares were bought at a volume-weighted average price of £21.197 on the LSE and varied across other trading venues. This buy-back arrangement is to be conducted independently by BNP Paribas Exane until July 22, 2022, adhering to the regulations of the UK Market Abuse Regulation and other relevant laws.

On July 4, 2022, Shell plc announced the purchase of 3 million shares for cancellation as part of its share buy-back program initiated on May 5, 2022. The shares were acquired across various trading venues, with prices ranging from £21.605 to £22.150. The buy-back arrangement involves BNP Paribas Exane making independent trading decisions until July 22, 2022. This initiative complies with existing regulations, including the Market Abuse Regulation and relevant UK laws.