Shell's Preference for Buybacks Could Be Questioned if Shares Fail to Re-Rate -- Market Talk

Dow Jones

2025/03/26

1027 GMT - Shell's preference for share buybacks over dividends will remain a significant topic of discussion if it fails to lead to a re-rating of its shares, Jefferies analysts Giacomo Romeo and Kai Ye Loh write. The London-listed energy company increased its shareholder payout target to 40%-50% of cash flow from operations and management said it would favor buybacks over dividends. Management also said the market undervalues the shares. Dividends will continue to grow at 4% a year but a one-off increase in 2025 or 2026 shouldn't be ruled out, the analysts write. Shares trade 1.45% higher at 2,805.00 pence. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

March 26, 2025 06:27 ET (10:27 GMT)

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