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More confidence, clear sense of direction.
$10bn cashflow
Record performance in marketing (better marketing business than anyone in business)
LNG - long-run 2-4% growth over decades.
"We remain very confident in future of energy business"
Reduction in capex from $25bn to $19bn and reduction in operating cost has reset balance sheet.
Confident we can grow dividend at 4% and similar level for years to come. First priority is progress dividend then debt reduction.
Aiming for AA credit metric.
Sounded extremely confident. Far cry from last quarter.
A lot of short term uncertainty but long-tell looks great.
Priorities wrong way round ,debit reduction first then dividend. Anyway the sp will drop a bit over the next few weeks I suspect if we go into a further national lockdown.
"Priorities wrong way round ,debit reduction first then dividend"
I'd agree with you in normal times Seaking1 however with rates close to zero and going lower I don't see why Shell should prioritise debt over the dividend.
Totally agreed. It makes sense to reduce liabilities & debt in this environment. The current . They have mentioned Share buy back next year which could be a really trigger for SP growth
The slight increase to the dividend is probably a tip of the hat to the Institutional Shareholders and a sign that they are mindful of keeping them on board.... especially those invested in income funds...
A 4% increase to the dividend at 16 cents may well be a small enough added slither to also pay back some recently added debt as well alongside in 2021
I think they are just mindful of trying to keep everyone on board at the moment...
The redundancy costs are going to be over $1 billion too I would imagine (judging by BP figures) , so that has to be factored in , as well
I suspect the downtrend will continue after this little uptick until institutions start reinvesting. That won't be until the world economy starts growing again so we are looking at beyond 2021. Still fear the bottom is £5-7.
Given Brent futures down 3% I think SP move is positive on back of results
Boyobach would probably correct me from the charts but I’m feeling a bit better today having watched in horror as my out of the money position widened after absorbing news of lockdown in EU and effect on OP