Shell smashes record again with $11.5-bn Q2 profit, announces $6-bn buyback

Refining margins triple in second quarter; strong gas and power trading lift profits

Photo: Reuters
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Photo: Reuters

Reuters
Shell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit.
 
The company also announced a $6 billion share buyback programme for the current quarter but did not raise its dividend of 25 cents per share. It said shareholder returns would remain "in excess of 30% of cash flow from operating activities".
A rapid recovery in demand after the end of pandemic lockdowns and a surge in energy prices, driven by Russia's invasion of Ukraine, have boosted profits for energy

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 28 2022 | 6:56 PM IST

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