British oil giant Shell on Thursday reported a sharp year-on-year drop in second-quarter profit on weaker fossil fuel prices.
Shell posted adjusted earnings of $5.1 billion for the three-month period through to the end of June, missing analyst expectations of $6 billion, according to estimates collated by Refinitiv.
Shell increased its quarterly dividend by 15% to $0.33 per share, as previously announced in mid-June. It also announced $3 billion in share buybacks, which is expected to be completed over the next three months.General view of the Shell logo.on Thursday reported a 47% year-on-year drop in second-quarter profit, citing lower fossil fuel prices and refining margins.
Shell posted adjusted earnings of $5.1 billion for the three-month period through to the end of June, missing analyst expectations of $6 billion, according to estimates collated by Refinitiv.
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