Shell Announces Pounds Sterling Dividend Payments

Shell Announces Pounds Sterling Dividend Payments by Ashly Chole last updated on June 25, 2022

Shell announced an interim dividend for its Q4 2021 on February 3 and each ordinary share will be eligible for a payment of $0.24. The payments will be made in the euro or pounds sterling equivalent. This means ordinary shareholders will be paid 0.2181 euros or 18.28p.

Election for pounds sterling, euros or USD is scheduled and shareholders can choose the currency of dividend payments. The pounds sterling and euro are to be converted from USD as per the market exchange rates.

The fossil fuel company said the payments will be made by March-end to those who have enlisted themselves on the chart of Register of Members.

The London-listed giant lately said to be ceasing involvement in Russian hydrocarbons and this includes LNG, gas, petroleum products and crude oil. It is withdrawing from the country gradually in phases and may not renew the term contracts for supplies from Russia.

The move is an aftermath of the Russian invasion of Ukraine that has entered into the second month with a couple of failed peace talks between the two countries. The Western allies have imposed various sanctions on Russia including a ban on the import of oil and gas from the country and the removal of Russian banks from the international SWIFT payment systems.

Meanwhile, the assault of Russian tanks and missiles has destroyed key Ukrainian cities and displaced millions of citizens to neighboring countries including Poland. NATO and the US have denied confronting directly with Russia as it may lead to World War III. A fear of bio or nuclear weapons is on the rise.

About Shell

Shell was founded in April 1907 by Marcus & Samuel Samuel, Jean B.A. Kessler, Henri Deterding and Hugo Loudon. It is headquartered in London, UK.

The multinational gas and oil company is listed on the London Stock Exchange, the NYSE and Euronext Amsterdam. It is ranked in the top 10 list of the Fortune 500 companies since 2000.

The key people in the company are CEO Ben van Beurden and chairperson Andrew Mackenzie. Its popular brands include Jiffy Lube, V-Power, Quaker State, Rotella and Pennzoil.

It exited joint ventures with Gazprom in February 2022 due to the Russian-Ukraine conflict and about a month later the company announced to stop purchasing oil from the country as well as shut down its service stations there.

The Russian-Ukraine war has entered the second month and several countries have stopped importing oil and gas from Russia.