Anything other than extraordinary profits from Shell would have been a surprise. It has ridden the wave of soaring oil and gas prices that have been unleashed by the war in Ukraine and profits last year doubled to almost $40 billion, smashing through a previous record of $28.4 billion set in 2008. It was an easy market debut for Wael Sawan, the company’s new boss.
Another bump in the fourth-quarter dividend of 15 per cent has taken the total payment to shareholders this year to 103.75 cents a share, a dividend yield of 3.6 per cent at the present share price. A fresh $4 billion share buyback programme also has been unveiled.
How long will bumper returns continue? For a little while yet.
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