Shell Announces $3.5 Billion Share Buyback Program After Reporting $7.7 billion in Earnings

Thursday, 2 May 2024, 07:54
Shell reported first-quarter adjusted earnings slightly below expectations but supported by strong margins from crude and oil trading. The energy giant has launched a $3.5 billion share buyback program to narrow the valuation gap with its U.S. rivals.
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Shell Announces $3.5 Billion Share Buyback Program After Reporting $7.7 billion in Earnings

Shell’s $3.5 Billion Buyback Announcement

Shell recently disclosed a $3.5 billion share buyback program to enhance shareholder value. The move comes after reporting $7.7 billion in earnings for the first quarter, with a focus on bridging the valuation difference with U.S. competitors.

Financial Performance Overview

  • Adjusted Earnings: Shell's first-quarter adjusted earnings showed resilience despite falling slightly below initial projections.
  • Share Buyback: The energy company has introduced a $3.5 billion share repurchase plan to boost investor confidence and align its market valuation.
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