NEWS PROVIDED BY: Royal Dutch Shell plc
THE HAGUE, Netherlands, November 28, 2017/PRNewswire/ —
- Scrip dividend programme to be cancelled with effect from the fourth quarter 2017 dividend
- Annual organic free cash flow outlook increased to $25 to $30 billionby 2020, at $60 per barrel (real terms 2016)
- Company sets ambition to reduce the net carbon footprint of its energy products in step with society‘s drive to align with the Paris Agreement goals
Royal Dutch Shell plc (Shell) (NYSE: RDS.A) (NYSE: RDS.B) Chief Executive Officer, Ben van Beurden, today updated investors on the company’s strategy, setting out plans to grow returns and free cash flow, and outlining its ambition to reduce the net carbon footprint of its energy products.
“Our next steps as we re-shape Shell into a world-class investment aim to ensure that our company can continue to thrive, not just in the short and medium term but for many decades to come,” said van Beurden. “These steps build on the foundations of Shell’s strong operational and financial performance, and my confidence in our strategy and our ability to deliver on the promises we make.”
Van Beurden highlighted three updates from his presentation: “We have increased our outlook for organic free cash flow, which has been consistently strong over the past five quarters. We have also made significant progress with our divestment programme, allowing us to reduce net debt in that time. Meanwhile, we intend to cancel our scrip dividend programme with effect from the fourth quarter 2017.” FULL ARTICLE
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