Shell (SHEL.L) is planning to will ramp up its dividend and share buybacks while at the same time keeping oil output steady into 2030, it said on Wednesday.
Shell CEO Wael Sawan said that the move is intended to regain investor confidence that has wavered over its energy transition plan.
The new financial plan, announced ahead of an investor conference in New York, Shell said it will increase overall shareholder distribution to 30% to 40% of cash flow from operations from 20% to 30% previously.
The shareholder boost includes a 15% dividend increase and a higher rate of its share buyback program from the second quarter to $5 billion from $4 billion in recent quarters.
