Shell announces Scrip Dividend Programme in 2015
Royal Dutch Shell plc (“Shell”) today announces that it intends to offer the option for shareholders to receive dividends in cash or in shares via a Scrip Dividend Programme (the “Programme”) with effect from the first quarter 2015 interim dividend onwards. This means that for the first quarter 2015 interim dividend, shareholders can opt to receive their dividend in shares.
Shareholders who do not join the Programme will continue to receive in cash any dividends declared by Shell.
Under the Programme shareholders will be able to increase their shareholding in Shell by choosing to receive new fully paid shares in lieu of cash dividends paid by Shell. Only new A Shares will be issued under the Programme, including to shareholders who currently hold B Shares.
Shell’s financial framework and priorities are unchanged. Scrip dividends offer shareholders the opportunity to receive shares as an alternative to cash dividends, and increased financial flexibility for the company in the down-cycle.
Documents providing further detail in respect of the Programme will be available in due course.
Directors were authorised at the 2010 Annual General Meeting (“AGM”) to offer shareholders the right to choose shares instead of a cash dividend. This authority was for a five year period and will cover the first quarter 2015 interim dividend. Similar authority will be sought at the 2015 AGM, however such renewal of authority will be for a three year period to comply with revised investor guidelines.