Shell launches buybacks
Royal Dutch Shell launched a $2 billion share buyback programme and boosted its dividends, after a sharp rise in oil and gas prices increased their second quarter profits.
Shell's London-traded shares rose by over 3 percent by 0711 GMT, according to Reuters, which said that the company outperformed BP and TotalEnergies.
"We are stepping up our shareholder distributions today, increasing dividends and starting share buybacks, while we continue to invest for the future of energy," Shell Chief Executive Ben van Beurden said in a statement, as reported by Reuters.
Shell’s adjusted earnings rose to $5.53 billion.
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