Royal Dutch Shell CEO: Dividends No Longer No.1 Priority
One of our regular contributors has picked up on a priority switch by Shell senior management which may frighten shareholders in Royal Dutch Shell Plc.
During an interview with Michelle Fox of CNBC earlier today, Ben van Beurden the Chief Executive Officer of the company said: In terms of debt paydown and covering of dividends two important priorities – Debt No 1, Dividend No 2.
Michelle Fox asks… When you say Dividend is number two does this mean you could change the level going forward?
Mr Van Beurden made reassuring noises about the dividend but noticeably did not backtrack on his relegation of dividend payment levels to being a secondary priority for Shell.
This major change in priority was not actually mentioned in the article. Readers need to view and listen to the video clip
He also appears to warn of potential further cuts in staff levels?