Shell raises dividend to shareholders as profit falls amid lower oil prices

Yorkshire Post

Shell has hiked its dividend to shareholders despite profits falling last year, after the energy giant was hit by weaker oil prices and lower demand for the fossil fuel. The London-listed company raised its dividend by 4% while posting earnings of 23.7 billion dollars (£19.1 billion) for the calendar year, down from 28.3 billion dollars (£22.8 billion) in 2023. #Shell

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00:00Hello, my name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.

00:06The oil company Shell has increased its dividend, despite profits falling last year, after Shell

00:11was hit by weaker oil prices and lower demand.

00:16The London-listed company raised its dividend by 4% while posting earnings of $23.7 billion

00:22for the calendar year, down from $28.3 billion in 2023.

00:29Shell also said it had hit a cost-cutting target of $3 billion after setting the goal

00:35in 2022.

00:36So, I'm Greg, this is Martin from Shell and the biggest names in global businesses increased

00:41its dividend to shareholders, despite profits falling last year.

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