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BRIEF-Shell Raises Annual Organic Free Cash Flow Outlook To $25-$30 Bln By 2020
November 28, 2017 / 7:12 AM / in 17 days

BRIEF-Shell Raises Annual Organic Free Cash Flow Outlook To $25-$30 Bln By 2020

Nov 28 (Reuters) - Shell:

* ‍SCRIP DIVIDEND PROGRAMME TO BE CANCELLED WITH EFFECT FROM Q4 2017 DIVIDEND​

* ‍ANNUAL ORGANIC FREE CASH FLOW OUTLOOK INCREASED TO $25 TO $30 BILLION BY 2020, AT $60 PER BARREL (REAL TERMS 2016)​

* ‍AIMS TO CUT NET CARBON FOOTPRINT OF ITS ENERGY PRODUCTS - EXPRESSED IN GRAMS OF CO(2) PER MEGAJOULE CONSUMED - BY AROUND HALF BY 2050​

* ‍ANNUAL CAPITAL INVESTMENT WILL CONTINUE TO BE BETWEEN $25 AND $30 BILLION​

* ‍ANNUAL UNDERLYING OPERATIONAL EXPENDITURE WILL REMAIN BELOW $38 BILLION UNTIL 2020​

* ‍COMPANY EXPECTS TO CONTINUE TO GROW ORGANIC FREE CASH FLOW THROUGHOUT 2020S AT A MORE MODERATE RATE​

* ‍TO DELIVER AN INCREMENTAL $5 BILLION CASH FLOW FROM OPERATIONS BY 2020.​

* HIGHER DISTRIBUTIONS TO SHAREHOLDERS IN FORM OF BUYBACKS IN LINE WITH PLANS CONFIRMED BELOW IS EXPECTED TO SUPPORT STRONGER GROWTH IN METRICS PER SHARE​

* ‍REMAINS ON TRACK TO DELIVER 1 MILLION BARRELS OF OIL EQUIVALENT PER DAY, $10 BILLION OF CASH FLOW FROM OPERATIONS FROM NEW PROJECTS BY 2018​

* ‍COMPANY IS CONFIRMING PLANS FOR SHARE BUYBACKS OF AT LEAST $25 BILLION IN PERIOD 2017-2020​

* ‍WILL INCREASE CAPITAL ALLOCATED TO NEW ENERGIES BUSINESS TO $1 TO $2 BILLION PER YEAR UNTIL 2020​

* ‍GEARING STOOD AT 25.4% AT END OF Q3 2017 AND ADDITIONAL DIVESTMENT PROCEEDS OF MORE THAN $5 BILLION SINCE THEN MEAN THAT 20% GEARING IS IN SIGHT​

* ‍WILL CONTINUE TO TARGET OPPORTUNITIES IN NEW FUELS AND POWER, TWO BUSINESSES ADJACENT TO ITS DOWNSTREAM AND GAS BUSINESSES​

* ‍COMPANY EXPECTS TO CONTINUE DIVESTMENTS AT AN AVERAGE RATE OF MORE THAN $5 BILLION UNTIL AT LEAST 2020​ Source text for Eikon: Further company coverage:

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