Royal Bank of Canada predicted that energy giant Shell could announce a boost to its quarterly dividend of about 38 per cent. Read on.
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The increase, which could take effect in the fourth quarter, would follow a year of record profits for Shell in 2022 that has already enabled the company to hike its dividend, spend billions on share buybacks and pay down debt. The June capital markets day will be a chance for new chief executive officer Wael Sawan to lay out his strategy to shareholders.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“We believe this is a sustainable increase that would be well received by investors, and would help balance its distribution framework between dividends and buybacks,” RBC said in a note.
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