Shell Reports $5.5 Billion Net Profit And Hikes Dividends ...Middle East

OILPRICE - Economy
Shell Reports $5.5 Billion Net Profit And Hikes Dividends
source : OILPRICE ( Middle East ) () 8
Anglo-Dutch Shell reported a net profit of $5.5 billion for the second quarter of the year on the back of stronger oil prices and said it will buy back $2 billion worth of shares. The company also booked free cash flow of $9.7 billion for the period, up from $200 million a year earlier, and reduced its net debt to $65.7 billion from $77.8 billion for the second quarter of 2020. “We are stepping up our shareholder distributions today, increasing dividends and starting share buybacks, while we continue to invest for the future of energy,”…

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