Shell smashes record again with massive US$11.5bil profit

Shell also announced a share buyback programme of US$6bil (RM26.7bil) for the current quarter, but did not raise its dividend of 25 US cents (RM1.11) per share. It said shareholder returns would remain “in excess of 30% of cash flow from operating activities”.

LONDON: Shell has reported a second-quarter profit of US$11.5bil (RM51bil), smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.

The company also announced a share buyback programme of US$6bil (RM26.7bil) for the current quarter, but did not raise its dividend of 25 US cents (RM1.11) per share. It said shareholder returns would remain “in excess of 30% of cash flow from operating activities”.