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Shell announced another $3.5bn of share buybacks as its quarterly profits exceeded market expectations.
Europe’s largest oil and gas company reported adjusted earnings of $6bn for the third quarter, beating average analyst estimates of $5.4bn and only slightly down from $6.2bn in the same period last year.
The biggest contributor to group profits was once again Shell’s integrated gas division, which reported quarterly earnings of $2.9bn.
The company said it would maintain its dividend and buy back a further $3.5bn of shares over the next three months. It is the 12th consecutive quarter that Shell has announced $3bn or more of share buybacks, it said.
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https://www.ft.com/content/358728ad-f69b-48f0-99f7-bb5943314110
