0927 GMT - Shell's improved capital discipline will deliver higher long-term shareholder distributions, but there is little near-term upside, HSBC analysts write. At last month's capital market day, Shell kept its dividend guidance of 4% growth a year. However, it is expected to increase dividend growth to around 10% a year from the end of 2028 as free cash flow grows, the analysts write. The analysts expect Shell to buy back 7% of its share count in 2025, before increasing that ratio to buy 12% by 2030. The analysts expect Shell to repurchase $16 billion of shares in 2029 and $17 billion in 2030. As Shell continues to favor buybacks over dividends, its dividend yield will fall, the analysts write. Shares trade flat at 2,796 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 05:27 ET (09:27 GMT)
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