Energy major Shell (NYSE:SHEL) is taking major strides toward maximizing shareholder value while it undertakes a balanced energy transition.
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The company is increasing shareholder distributions to 30% to 40% of CFFO through the cycle as compared to the earlier 20% to 30%. It is boosting its dividend per share by 15% from the second quarter of this year and will also undertake share repurchases worth about $5 billion from the second half of this year.
It is also aiming to grow its integrated gas business and stabilize liquids production by 2030. Further, Shell is looking to become net-zero emissions by 2050 and is planning to invest about $10 to $15 billion between 2023 and 2025 into low-carbon energy solutions. These include hydrogen, biofuels, and EV charging.
Wael Sawan, the CEO of the company commented, “We are investing to provide the secure energy customers need today and for a long time to come while transforming Shell to win in a low-carbon future.”
Overall, the Street has a $66.54 consensus price target on Shell alongside a Strong Buy consensus rating.
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