Shell Hikes Dividend and Buybacks Despite Underwhelming Earnings ...Middle East

Shell (NYSE: SHEL) on Thursday raised its fourth-quarter dividend by 4% and announced a new share buyback program even as it reported earnings below expectation for the last quarter of 2024. The UK-based oil and gas supermajor booked $3.66 billion in adjusted earnings for the fourth quarter, below the analyst estimate of around $4 billion, and down from the $6 billion for the third quarter of 2024. The fourth-quarter earnings reflect lower prices and margins, higher exploration well write-offs, and the non-cash impact of expiring hedging contracts…

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