The Hague, October 29, 2020 - The Board of Royal Dutch Shell plc
(“RDS” or the “Company”) today announced an interim dividend in
respect of the third quarter of 2020 of US$ 0.1665 per A ordinary
share (“A Share”) and B ordinary share (“B Share”).
Chair of the Board of Royal Dutch Shell, Chad Holliday
commented: "The Board has reviewed Shell’s recent performance and
its plans to grow its businesses of the future, and we are
confident that Shell can sustainably grow its shareholder
distributions as well as invest for growth.
As a result, the Board has decided to increase the dividend per
share to 16.65 US cents for the third quarter 2020. The Board has
additionally approved a cash allocation framework for Shell which,
on reducing its net debt to $65 billion, will target total
shareholder distributions of 20-30% of cash flow from
operations."
Details relating to the third quarter 2020 interim
dividendIt is expected that cash dividends on the B Shares will
be paid via the Dividend Access Mechanism and will have a UK source
for UK and Dutch tax purposes.
Per ordinary share |
Q3 2020 |
|
|
RDS A Shares (US$) |
0.1665 |
RDS B Shares (US$) |
0.1665 |
Cash dividends on A Shares will be paid, by default, in euros,
although holders of A Shares will be able to elect to receive
dividends in US dollars or pounds sterling.
Cash dividends on B Shares will be paid, by default, in pounds
sterling, although holders of B Shares will be able to elect to
receive dividends in US dollars or euros.
The pound sterling and euro equivalent dividend payments will be
announced on December 3, 2020.
Per ADS |
Q3 2020 |
|
|
RDS A ADSs (US$) |
0.333 |
RDS B ADSs (US$) |
0.333 |
Cash dividends on American Depository Shares (“ADSs”) will be
paid, by default, in US dollars.
RDS A and B ADSs are listed on the New York Stock Exchange under
the symbols RDS.A and RDS.B, respectively. Each ADS represents two
ordinary shares, two A Shares in the case of RDS.A or two B Shares
in the case of RDS.B. ADSs are evidenced by an American Depositary
Receipt (ADR) certificate. In many cases the terms ADR and ADS are
used interchangeably.
Shell has introduced option to receive dividend in US dollars
and moved to full electronic settlement of its dividends
On December 18, 2019, Shell announced the introduction of US
dollar as additional currency election and highlighted that its
dividend will be settled with its shareholders fully electronically
either in CREST or via interbank transfers. The announcement
provided an overview of the actions needed by shareholders to
ensure they continue to receive their dividends. Please refer to
the announcement of December 18, 2019 for further information:
https://www.shell.com/media/news-and-media-releases/2019/shell-introduces-option-to-receive-dividend-in-us-dollars.html
Dividend timetable for the third quarter 2020 interim
dividend
Announcement date
|
October 29, 2020
|
Ex-dividend date
|
November 12, 2020
|
Record date
|
November 13, 2020
|
Closing of
currency election date (see Note below) |
November 27, 2020
|
Pound sterling
and euro equivalents announcement date |
December 3, 2020
|
Payment date
|
December 16, 2020
|
Note
A different currency election date may apply to shareholders
holding shares in a securities account with a bank or financial
institution ultimately holding through Euroclear Nederland. This
may also apply to other shareholders who do not hold their shares
either directly on the Register of Members or in the corporate
sponsored nominee arrangement. Shareholders can contact their
broker, financial intermediary, bank or financial institution for
the election deadline that applies.
Taxation - cash dividends
Cash dividends on A Shares will be subject to the deduction of
Dutch dividend withholding tax at the rate of 15%, which may be
reduced in certain circumstances. Non-Dutch resident shareholders,
depending on their particular circumstances, may be entitled to a
full or partial refund of Dutch dividend withholding tax.
If you are uncertain as to the tax treatment of any dividends
you should consult your tax advisor.
Dividend Reinvestment Programmes (“DRIP”)
The following organisations operate Dividend Reinvestment Plans
(“DRIPs”) which enable RDS shareholders to elect to have their
dividend payments used to purchase RDS shares of the same class as
those already held by them:
- Equiniti Financial Services Limited (“EFSL”), for those holding
shares (a) directly on the register as certificate holder or as
CREST Member and (b) via the Nominee Service;
- ABN-AMRO NV (“ABN”) for Financial Intermediaries holding ‘A’
shares or ‘B’ shares via Euroclear Nederland:
- JP Morgan Chase Bank NA (“JPM”) for holders of ‘A’ and ‘B’
American Depository Shares; and
- Other DRIPs may also be available from the intermediary through
which investors hold their shares.
Such organisations provide their DRIPs fully on their account
and not on behalf of Royal Dutch Shell plc. Interested parties
should contact DRIP Offerors directly.
More information can be found at https://www.shell.com/drip
To be eligible for the next dividend, shareholders must make a
valid dividend reinvestment election before the published date for
the close of elections.
Royal Dutch Shell plc
ENQUIRIES:
Media: |
|
International |
+44 (0) 207 934
5550 |
Americas |
+1 832 337 4355 |
CAUTIONARY NOTE
The companies in which Royal Dutch Shell plc directly and
indirectly owns investments are separate legal entities. In this
announcement “Shell”, “Shell Group” and “Royal Dutch Shell” are
sometimes used for convenience where references are made to Royal
Dutch Shell plc and its subsidiaries in general. Likewise, the
words “we”, “us” and “our” are also used to refer to Royal Dutch
Shell plc and its subsidiaries in general or to those who work for
them. These terms are also used where no useful purpose is served
by identifying the particular entity or entities. ‘‘Subsidiaries’’,
“Shell subsidiaries” and “Shell companies” as used in this
announcement refer to entities over which Royal Dutch Shell plc
either directly or indirectly has control. Entities and
unincorporated arrangements over which Shell has joint control are
generally referred to as “joint ventures” and “joint operations”,
respectively. Entities over which Shell has significant
influence but neither control nor joint control are referred to as
“associates”. The term “Shell interest” is used for convenience to
indicate the direct and/or indirect ownership interest held by
Shell in an entity or unincorporated joint arrangement, after
exclusion of all third-party interest.
This announcement contains forward-looking statements (within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995) concerning the financial condition, results of operations and
businesses of Royal Dutch Shell. All statements other than
statements of historical fact are, or may be deemed to be,
forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management’s
current expectations and assumptions and involve known and unknown
risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of
Royal Dutch Shell to market risks and statements expressing
management’s expectations, beliefs, estimates, forecasts,
projections and assumptions. These forward-looking statements are
identified by their use of terms and phrases such as “aim”,
“ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’,
‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’,
‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’,
“schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar
terms and phrases. There are a number of factors that could affect
the future operations of Royal Dutch Shell and could cause those
results to differ materially from those expressed in the
forward-looking statements included in this announcement, including
(without limitation): (a) price fluctuations in crude oil and
natural gas; (b) changes in demand for Shell’s products; (c)
currency fluctuations; (d) drilling and production results; (e)
reserves estimates; (f) loss of market share and industry
competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential
acquisition properties and targets, and successful negotiation and
completion of such transactions; (i) the risk of doing business in
developing countries and countries subject to international
sanctions; (j) legislative, fiscal and regulatory developments
including regulatory measures addressing climate change; (k)
economic and financial market conditions in various countries and
regions; (l) political risks, including the risks of expropriation
and renegotiation of the terms of contracts with governmental
entities, delays or advancements in the approval of projects and
delays in the reimbursement for shared costs; (m) risks associated
with the impact of pandemics, such as the COVID-19 (coronavirus)
outbreak; and (n) changes in trading conditions. No assurance is
provided that future dividend payments will match or exceed
previous dividend payments. All forward-looking statements
contained in this announcement are expressly qualified in their
entirety by the cautionary statements contained or referred to in
this section. Readers should not place undue reliance on
forward-looking statements. Additional risk factors that may affect
future results are contained in Royal Dutch Shell’s Form 20-F for
the year ended December 31, 2019 (available at
www.shell.com/investor and www.sec.gov). These risk factors also
expressly qualify all forward-looking statements contained in this
announcement and should be considered by the reader. Each
forward-looking statement speaks only as of the date of this
announcement, October 29, 2020. Neither Royal Dutch Shell plc nor
any of its subsidiaries undertake any obligation to publicly update
or revise any forward-looking statement as a result of new
information, future events or other information. In light of these
risks, results could differ materially from those stated, implied
or inferred from the forward-looking statements contained in this
announcement.
We may have used certain terms, such as resources, in this
announcement that the United States Securities and Exchange
Commission (SEC) strictly prohibits us from including in our
filings with the SEC. Investors are urged to consider closely
the disclosure in our Form 20-F, File No 1-32575, available on the
SEC website www.sec.gov.
LEI number of Royal Dutch Shell plc:
21380068P1DRHMJ8KU70Classification: Additional regulated
information required to be disclosed under the laws of a Member
State
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