(CercleFinance.com) – Shell announced on Friday that it intends to return to its shareholders some 5.5 billion dollars received as part of the sale of its activities in the Permian Basin, in the United States.
On the occasion of an update on its activity in the fourth quarter, the oil giant specifies that this redistribution will be in the form of share buybacks carried out ‘at a gradual pace’.
The group underlines that this decision was taken by its board of directors on December 31, at its first meeting in the United Kingdom following the recent simplification of its operational structure.
In its press release, Shell notes that the 5.5 billion that it intends to offer to its shareholders will be added to the payment of 20% to 30% of its operating cash flow (CFFO) already planned as part of its capital allocation plan.
Pending the publication of its final fourth quarter results, scheduled for February 3, the energy group has delivered some indicators relating to its activity over the past month.
The publication shows in particular a refining margin of 6.55 dollars per barrel over the last three months of the year, against 5.70 dollars in the third quarter, a logical development in view of the increase in oil prices at the end of the year. last year.
On the London Stock Exchange, Shell ‘A’ shares fell 0.4% on Friday morning following all these announcements.
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