LONDON (Reuters) -Shell will increase its dividend by 15%, starting in the second quarter of the year, and reduce capital spending as part of CEO Wael Sawan’s efforts to regain investor confidence, the company said on Wednesday.
In a new financial framework, Shell will increase overall shareholder distribution to 30% to 40% of cash flow from operations from the previous 20% to 30% rate.
The company will also lift the rate of its share buyback programme in the second quarter to $5 billion, up from $4 billion in recent quarters.
Shell reiterated its target to become a net-zero emissions company by 2050.
(Reporting by Ron Bousso and Shadia Nasralla; Editing by David Goodman and Jan Harvey)
