April 30, 2020 / 6:12 AM / 2 months ago

Shell slashes dividend for first time since 1940s

LONDON, April 30 (Reuters) - Royal Dutch Shell cut its dividend for the first time in 80 years on Wednesday after a sharp drop in profit as global oil demand collapsed due to coronavirus.

“Given the continued deterioration in the macroeconomic outlook and the significant mid and long-term uncertainty, we are taking further prudent steps to bolster our resilience, underpin the strength of our balance sheet and support the long-term value creation of Shell,” Chief Executive Ben van Beurden said in a statement. (Reporting by Ron Bousso and Shadia Nasralla Editing by David Goodman )

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below