Shell 1st Quarter Results

[idpickering]

Compared with the first quarter 2017, CCS earnings attributable to shareholders excluding identified items increased by $1.6 billion, mainly driven by higher contributions from Integrated Gas and Upstream, partly offset by lower earnings in Downstream.

Cash flow from operating activities for the first quarter 2018 was $9.4 billion, which included negative working capital movements of $0.9 billion, compared with $9.5 billion in the first quarter 2017, which included negative working capital movements of $1.6 billioni.

Total dividends distributed to shareholders in the quarter were $4.0 billion.

https://www.shell.com/investors/financi ... -2018.html

From the CEO;

CEO statement
Royal Dutch Shell Chief Executive Officer Ben van Beurden commented:

“Shell’s strong earnings this quarter were underpinned by higher oil and gas prices, the continued growth and very good performance of our Integrated Gas business, and improved profitability in our Upstream business. Less favourable refining market conditions and lower contributions from trading impacted the earnings of our Downstream business.

We continue to upgrade our portfolio through performance improvement, new projects, divestments and the development of new businesses. Competitiveness and resilience – now and through the energy transition – are key features of our world-class investment case.

We have a strong financial framework. Our commitment to capital discipline is unchanged, we are making good progress with our $30 billion divestment programme and our outlook for free cash flow – which covered our cash dividend and interest this quarter and over the last year – is consistent with our intent to buy back at least $25 billion of our shares over the period 2018-2020.”

nb, investigate doesn't seem to want to play today.

[idpickering]

Investegate staff have awoken at last.

Results here; https://www.investegate.co.uk/royal-dut ... 0010P67C6/

And this;

Shell first quarter 2018 interim dividend

The Board of Royal Dutch Shell plc (“RDS” or the “Company”) today announced an interim dividend in respect of the first quarter of 2018 of US$0.47 per A ordinary share (“A Share”) and B ordinary share (“B Share”), equal to the US dollar dividend for the same quarter last year.

On November 28, 2017, RDS announced the cancellation of its Scrip Dividend Programme with effect from the fourth quarter 2017 interim dividend. The cancellation means the first quarter 2018 interim dividend and future dividends will be settled entirely in cash, rather than the Company offering a share-based alternative. For further details please refer to http://www.shell.com/scrip.

Exchange rate announced on 4 Jun 18. Ex dividend on 10 May 18, and paid on 18 Jun 18.

https://www.investegate.co.uk/royal-dut ... 0054PF603/

[Dod101]

So free cash flow covered the dividend and interest. Good news, and I also like the stated intention to buyback shares (which of course they said at the time of the BG takeover to offset the shares paid for that) Seems like good news to me.

Dod

[idpickering]

My largest holding, which is a bit naughty of me I guess. My major main stay in my HYP.

Ian.

[monabri]

They must be a good set of results...the " yield has increased " this morning!



Seriously though, it's good to see the Divi has been covered by FCF...a major positive.

[idpickering]

They must be a good set of results...the " yield has increased " this morning!



Seriously though, it's good to see the Divi has been covered by FCF...a major positive.

Cheers monabri. Funny old World isn't it? For me though, I have no intention of interfering with my holdings in this dividend machine.

Ian.

[moorfield]

Very happy with Shell's results today. Also my largest holding now and contributing 9.5% of overall income currently, last top ups were done at sub-£14 so a tidy capital gain too.

[Breelander]

The Board of Royal Dutch Shell plc (“RDS” or the “Company”) today announced an interim dividend in respect of the first quarter of 2018 of US$0.47 per A ordinary share (“A Share”) and B ordinary share (“B Share”), equal to the US dollar dividend for the same quarter last year.

In fact, it's "equal to the US dollar dividend for the same quarter..." all the way back to 2014.

I've held Shell since 2001. With the switch to quarterly dividends it has been their practice to pay four equal quarterly dividends, so it's a safe bet that Q2 and Q3 will be US$0.47 too. When dividends have been increased previously (last time was 2014, Q1) it has normally appeared first in either the the Q4 or Q1 dividend announcement.

[idpickering]

Very happy with Shell's results today. Also my largest holding now and contributing 9.5% of overall income currently, last top ups were done at sub-£14 so a tidy capital gain too.

Like Breelander I've held Shell RDSB for some years now, my first purchase being on 20 Jul 2005. I have topped up a few times, the last being on 21 Jan 2016, during the 'oil crisis', at which point I doubled my holdings. I bought more on that occasion @ 1294p per share. Consequently, I've had a nice capital return on them as well. They currently form 5% in capital value terms of my 32 share HYP.

Ian.