Dividends

Policy

Our policy is to grow the US dollar dividend through time in line with our view of Shell’s underlying earnings and cash flow. When setting the dividend, the Board of Directors looks at a range of factors, including the macro environment, the current balance sheet and future investment plans. We have announced an interim dividend in respect of the first quarter 2016 of $0.47 per share, in line with the same quarter of 2015.

Scrip Dividend Programme

The Company’s Scrip Dividend Programme enables shareholders to increase their shareholding by choosing to receive new shares instead of cash dividends (if approved by the Board). Only new A shares are issued under the programme, including to shareholders who held B shares.

A and B shares

$

 

2015

2014

2013

2012

2011

Q1

0.47

0.47

0.45

0.43

0.42

Q2

0.47

0.47

0.45

0.43

0.42

Q3

0.47

0.47

0.45

0.43

0.42

Q4

0.47

0.47

0.45

0.43

0.42

Total announced in respect of the year

1.88

1.88

1.80

1.72

1.68

A shares

€[A]

 

2015

2014

2013

2012

2011

[A]

Euro equivalent, rounded to the nearest euro cent.

Q1

0.42

0.35

0.34

0.35

0.29

Q2

0.42

0.36

0.34

0.34

0.29

Q3

0.43

0.38

0.33

0.33

0.32

Q4

0.42

0.43

0.32

0.33

0.32

Total announced in respect of the year

1.69

1.53

1.34

1.35

1.22

Amount paid during the year

1.71

1.42

1.34

1.34

1.20

B shares

Pence[A]

 

2015

2014

2013

2012

2011

[A]

Sterling equivalent.

Q1

30.75

28.03

28.99

27.92

25.71

Q2

30.92

29.09

28.67

27.08

25.77

Q3

31.07

30.16

27.51

26.86

27.11

Q4

32.78

31.20

26.88

28.79

26.74

Total announced in respect of the year

125.52

118.48

112.05

110.65

105.33

Amount paid during the year

123.94

114.16

113.96

108.60

104.41

A and B ADSs

$

 

2015

2014

2013

2012

2011

Q1

0.94

0.94

0.90

0.86

0.84

Q2

0.94

0.94

0.90

0.86

0.84

Q3

0.94

0.94

0.90

0.86

0.84

Q4

0.94

0.94

0.90

0.86

0.84

Total announced in respect of the year

3.76

3.76

3.60

3.44

3.36

Amount paid during the year

3.76

3.72

3.56

3.42

3.36

Scrip issuance A shares

Number of shares in million

 

2015[A]

2014[A]

2013

2012

2011

[A]

Our Scrip Dividend Programme was cancelled with effect from the second quarter 2014 interim dividend and reintroduced with effect from the first quarter 2015 interim dividend.

Q1

38.0

25.6

27.5

31.1

Q2

23.4

26.6

23.6

19.8

23.9

Q3

23.9

39.1

22.3

22.3

Q4

49.0

37.3

34.2

27.3

Total

96.3

64.6

125.6

103.8

104.6

Number of shares repurchased [A]

Number of shares in million

 

2015[B]

2014

2013

2012

2011

[A]

Share repurchases based on the trading date. Settlement usually occurs three working days after each trading day.

[B]

Our share buyback programme was suspended in February 2015.

Q1

12.7

32.4

16.1

1.3

Q2

9.5

56.2

27.0

Q3

21.4

45.4

2.4

28.1

Q4

24.4

27.2

13.0

6.3

Total

12.7

87.7

144.9

43.7

34.4