The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Royal Dutch Shell shares rise despite full year profit plunging 80%

Thu, 04th Feb 2016 07:07

(ShareCast News) - Despite Royal Dutch Shell posting an 80% drop in full year profit, the company's shares are up as investors knew last month what was coming and are eyeing up continued dividends.The FTSE 100 oil giant company said full year profit dropped to $3.8bn (£2.6bn) from $19bn in 2014.In the fourth quarter, profit was $1.8bn, up from a loss in the third quarter of £6.1bn but down from the profit in the last quarter of 2014 of $4.2bn.Earnings from its upstream business were affected by lower oil and gas prices, however that was partly offset from lower costs.The company also confirmed it will pay a fourth quarter dividend of $0.47 per share, and said it is expecting to announce a first quarter dividend at the same rate.Royal Dutch Shell chief executive officer Ben van Beurden said the completion of the BG Group merger will rejuvenate the group."We are making substantial changes in the company, reorganising our Upstream, and reducing costs and capital investment, as we refocus Shell, and respond to lower oil prices," he said."As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies."CMC Markets' Michael Hewson said the results meet expectations as investors look for the dividend."This morning's results from Royal Dutch Shell didn't offer up too many surprises given that CEO Ben Van Buerden gave investors a "heads up" at the end of January," he said."As far as the dividend policy is concerned Shell is better placed to keep it at current levels in the short term, given its better dividend cover, while its debt levels have been falling relative to its peers since the end of 2013, which suggests that for now the 9% yield is probably safe."Hargreaves Lansdown's Danny Cox noted the company is famous for its dividend track record."Half of Holland would keel over in apoplectic horror if Shell ever cut the payout," he said."The merger with BG, as the company points out, supports the dividend under "any expected oil price scenario"."That's because BG's Brazilian and Australian projects have strongly rising production profiles and relatively low operating costs. "Shell is promising that the dividend will be safe unless the unexpected happens. The company's A shares were up 61p (4.24%) to 1,499p at 0855 GMT, while its B shares were up the same amount to 1,498.5p.
More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

Read more
21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

Read more
15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, part of an ongoing retreat of long-time producers from the ageing basin.

Read more
7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating the firm was "on a roll".

Read more
31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

Read more
31 Jan 2022 07:48

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

Read more
28 Jan 2022 11:25

Shell's renewables boss steps down after less than two years

* Elisabeth Brinton leaves for new role, she says* Shell creates two new renewables leadership roles* Thomas Brostrøm to head renewables generation* Steve Hill to head energy marketingBy Ron BoussoLONDON, Jan 28 (Reuters) - Shell's head of renewable...

Read more
27 Jan 2022 16:14

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
26 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

Read more
26 Jan 2022 14:36

China's Sinopec awards fewer cargoes in recent LNG tender

By Chen Aizhu and Marwa RashadSINGAPORE/LONDON, Jan 26 (Reuters) - Unipec, the oil and gas trading arm of China's Sinopec Corp has awarded fewer-than-planned cargoes in a recent tender to sell up to 45 cargoes of liquefied natural gas for 2022 del...

Read more
26 Jan 2022 12:16

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

Read more
26 Jan 2022 09:33

UPDATE 2-Commodity, bank stocks lead FTSE 100 higher; Playtech drops

* Oil and banking shares top gainers* Wizz Air reports Q3 loss, expects improvement in spring* FTSE 100 up 1.3%, FTSE 250 add 1.1% (Updates to market close)By Shashank Nayar and Ambar WarrickJan 26 (Reuters) - London's FTSE 100 rose on Wednesday wit...

Read more
26 Jan 2022 09:12

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

Read more
25 Jan 2022 21:13

UPDATE 1-U.S. awards 13 mln barrel exchange of crude from strategic reserve

(Adds details on sale, background on 50 million barrel SPR plan)WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to ...

Read more
25 Jan 2022 20:10

U.S. awards exchange of 13 mln barrels of crude from strategic reserve

WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to seven companies.The companies are Shell Trading US, 4.2 million ...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.