Shell plc release fourth quarter results and interim dividend for 2021
Q4 2021 Adjusted Earnings of $6.4 billion, supported by higher commodity prices. Continued strong CFFO excluding working capital of $11.1 billion in Q4 2021. Total CFFO excluding working capital amounted to $55 billion in 2021.
Disciplined cash capex: $20 billion in 2021 and expected to be at the lower end of $23-27 billion range in 2022.
Net debt reduced to $52.6 billion by end-2021, a $23 billion reduction compared with 2020.
Share buybacks of $3.5 billion announced in 2021. Dividend expected to be increased by ~4% to $0.25 per share for Q1 2022.
Stepping up pace of distributions by announcing a share buyback programme of $8.5 billion for the first half of 2022, including the remaining $5.5 billion of Permian divestment proceeds.
Shell plc Chief Executive Officer, Ben van Beurden
“2021 was a momentous year for Shell. We launched our Powering Progress strategy and simplified our share structure and organisation. Progress made in 2021 will enable us to be bolder and move faster. We have a compelling strategy, with customers at its core. We have ambitious plans to generate shareholder value, to decarbonise our products and to provide energy to our customers while respecting nature. We delivered very strong financial performance in 2021, and our financial strength and discipline underpin the transformation of our company. Today we are stepping up our distributions with the announcement of an $8.5 billion share buyback programme and we expect to increase our dividend per share by around 4% for Q1 2022.”
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