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Shell dividends are still flowing

TimesOnline: Shell dividends are still flowing

May 08, 2004
Posted 11 May 04

Stella Shamoon provides her regular update on the performance of the Share of the Month portfolio

OILS

Shell’s first-quarter adjusted net income rose 9 per cent to $4.25 billion (£2.37 billion), albeit buoyed by exceptional gains. But a $2 billion share buyback and a $2 billion increase in capital expenditure (with only $200 million being spent on pure exploration) was comforting after so many nasty surprises.

Shell is strong, gushing cash and dripping dividends. So I am not selling my shares now, not least because it is under pressure to reform its antiquated and opaque structure. Nor am I selling my shares in ENI and Schlumberger. The oil price is red hot and so, sadly, is geopolitical risk. Hold all.

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