Royal Dutch Shell Plc has today kicked off its next round of share buy-backs, with up to US$1.5bn to be spent.
Share purchasing will be executed through an arrangement with a broker, and both A and B shares will be bought in the weeks up until 28 January 2022.
It will be the first tranche of US$7bn of planned shareholder distributions following the sale of the Shell’s Permian business in the United States.
The timetable for the remaining US$5.5bn will be announced in early 2022, Shell added.
Moreover, these returns are from the sale proceeds and are in addition to Shell’s pledge to pay out between 20% and 30% of cash flow from operations.