Shell announces Q1 euro and GBP equivalent dividends ahead of Capital Markets Day

The Board of Shell announced on Monday the pounds sterling and euro equivalent dividend payments in respect of the company’s first quarter 2023 interim dividend, which was announced at US $0.2875 per ordinary share in May.

Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by June 5, 2023 will be entitled to a dividend of $0.2875, €0.2678 or 22.99p per ordinary share respectively, the company said.

The announcement comes ahead of Shell’s Capital Markets Day on 14 June – the first one for new CEO Wael Sawan who took over in January following an eight-year tenure of Ben van Beurden – with the company’s energy transition agenda and profitability among the areas of focus for investors.

According to Shell, absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros at the euro rate per ordinary share as above. Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form - CREST members) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling, at the pound sterling rate per ordinary share as above.

Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from June 7 to June 9, 2023. This dividend will be payable on June 26, 2023 to those members whose names were on the Register of Members on May 19, 2023, Shell said.