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FT: Shell faces spending scrutiny after dividend cut

Royal Dutch Shell is facing growing pressure from investors for clarity on its spending plans after the company announced a dramatic two-thirds cut to its quarterly dividend.

One top 20 investor said: “If you can’t understand where the company is going, and they aren’t paying a dividend [as large as before], why would you own the stock? We are pissed off with them because they cut the dividend.”

The company has cancelled its purchase of a fourth executive jet due for delivery in May to conserve cash…

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